Domestic gold price continues upward trend

KARACHI: Gold prices continued their upward trend as the per tola price of the precious metal on Tuesday witnessed an increase of Rs250 to Rs115,850 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 Rs214 to Rs99,322.

Meanwhile, global gold prices further went up by 13 dollars to $1,945 per ounce.

According to Reuters, gold prices in the international market hit a two-month high on Tuesday, lifted by a lacklustre dollar as investors awaited the U.S. Senate runoffs in Georgia that will determine which party controls Congress and prospects for additional fiscal stimulus.

Spot gold was up 0.3% at $1,948.80 an ounce by 1234 GMT, having touched its highest since Nov. 9 at $1,950.34. U.S. gold futures gained 0.3% to $1,952.20.

Read More: Gold prices go down in local market

In other precious metals, silver rose 0.6% to $27.38 and palladium gained 2.1% to $2,423.78.

Platinum was up 0.6% at $1,076.86, having hit a more than four-year high of $1,127.82 on Monday.