Gold prices rise by Rs750 per tola in domestic market
- By Web Desk -
- Dec 16, 2020
KARACHI: The per tola gold price on Wednesday witnessed an increase of Rs750 to Rs110,750 in the domestic market, ARY News reported.
Likewise, the rate of 10 grams of the precious metal increased by Rs643 to Rs95,808, according to the All Pakistan Jewelers Association.
According to Reuters, gold rose to a one-week high on Wednesday on market hopes for further fiscal support for the U.S. economy and expectations that the U.S. Federal Reserve will keep a lid on interest rates.
Spot gold was up 0.5% at $1,862.30 an ounce by 1023 GMT after touching its highest since Dec. 9 at $1,865.14. U.S. gold futures rose 0.6% to $1,866.20.
Read More: Gold prices go down in domestic, global markets amid vaccine optimism
Earlier on December 14, gold prices in Pakistan had witnessed a declining trend on the first day of the week on Monday.
According to details, the per tola price of the precious metal had gone down by Rs 300 after which it traded at Rs110,500 per tola.
On the other hand, the 10-gram gold prices had also witnessed a decline of Rs 257 per 10 gram and traded at Rs94,736 per 10 gram.