Gold prices see massive increase in Pakistan

KARACHI: The per tola gold price on Thursday registered a massive increase of Rs2300 to Rs 119,000 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 Rs1972 to Rs102,023.

In the international market, gold prices slipped on Wednesday as robust U.S. economic data lifted the dollar and Treasury yields ahead of minutes from the Federal Reserve’s November meeting that could provide cues on interest rate hikes.

Spot gold fell 0.4% to $1,782.58 per ounce by 09:29 a.m. ET (1429 GMT), while U.S. gold futures were down 0.1% at $1,782.00.

Spot platinum rose 0.4% to $973.33 per ounce, while palladium was up 0.3% to $1,873.45.

Silver fell 0.7% to $23.48.