Wednesday, December 8, 2021

Gold continues upward journey in Pakistan

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KARACHI: Gold prices continued their upward trend as the per tola rate of the precious metal on Monday witnessed increase of Rs600 to Rs127,800 in the domestic market, ARY News reported.

Sharing the price of the precious metal, All Pakistan Jewelers Manufacturers Association Chairman Muhammad Arshad said that the rate of 10 grams of gold increased by Rs515 to Rs109,568.

In the International market, gold prices reclaimed the $1,800 mark on Monday, supported by persisting worries over inflation, as investors looked ahead to the next Federal Reserve meeting for its outlook on monetary policy, according to Reuters.

Read: RUPEE SINKS TO NEW RECORD LOW AGAINST US DOLLAR

Spot gold rose 0.5% to $1,801.22 per ounce. U.S. gold futures rose 0.4% to $1,802.50. Spot silver rose 0.4% to $24.40 per ounce.

Platinum inched 0.1% higher to $1,041.06, and palladium gained 0.9% to $2,039.87.

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