Gold prices edge up in domestic market

KARACHI: The per tola gold price on Wednesday registered an increase of Rs100 to Rs 109,350 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 Rs86 to Rs 93,750.

In international market, Gold prices edged higher on Wednesday and were on course for a sixth straight session of gains.

Spot gold rose 0.6% to $1,807.20 per ounce by 1124 GMT, after hitting its highest since June 17 at $1,814.78 on Tuesday. U.S. gold futures gained 0.8% to $1,808.60 per ounce.

Elsewhere, silver climbed 0.9% to $26.38 per ounce, platinum rose 0.4% to $1,095.60, and palladium advanced 1.7% to $2,841.77.

On the other hand, the Pakistani rupee depreciated 55 paisas against the United States (US) dollar in the inter-bank currency market on Wednesday.

According to the State Bank of Pakistan (SBP), the local unit closed at Rs158.92 against the greenback, registering depreciation of 55 paisas over the previous close of Rs158.37.