Gold price rises by Rs150 per tola in domestic market

KARACHI: The per tola gold price witnessed an increase of Rs150 to Rs97,750 in the domestic market on Tuesday, ARY News reported.

The 10-gram domestic price rose by Rs128 to Rs83,804, according to All Pakistan Jewellers Association.

The gold price also increased by Rs400 to Rs97,600 in the domestic market on Monday.

Meanwhile, gold prices rose in the international market as a pullback in equities increased the appeal of the safe-haven metal while investors awaited the U.S. Federal Reserve’s two-day monetary policy meeting starting later in the day.

Spot gold was up 0.8% at $1,708.09 per ounce by 0913 GMT, climbing for a second straight session. U.S. gold futures gained 0.6% to $1,714.50.

Palladium fell 3.1% to $1,959.87 an ounce, and prices of the metal used in auto catalysts are now down more than 30% from a record peak hit in late February.