Gold prices edge up in Pakistan, international markets

KARACHI: The prices of gold in national and international markets have witnessed a surge with per tola price of gold seeing an increase of Rs150 in the domestic market of Pakistan on Tuesday, ARY News reported.

All Pakistan Jewelers Manufacturers Association Chairman Muhammad Arshad said that the per tola price rose to Rs124,100 in the domestic market.

The rate of 10 grams of gold also increased by Rs128 to Rs106,395, he added.

In the international market, gold traded in a tight range on Tuesday as the focus turned to U.S. consumer prices data later this week that may influence the Federal Reserve’s interest-rate hike timeline, with investors seeming to shrug off concerns over the Omicron variant.

Spot gold was up 0.2% to $1,782.30 per ounce by 1239 GMT, stuck in a narrow range. U.S. gold futures were up 0.2% to $1,784.60.

Gold’s slight uptick came despite gains in global equities that jumped as Omicron worries waned.

Platinum gained 2.4% to $959.92 an ounce, palladium added 1.3% to $1,877.73 and silver rose 0.4% to $22.45 per ounce.