Gold prices see big rise in Pakistan

KARACHI: Gold prices continued their upward trend as the per tola rate of the precious metal on Tuesday witnessed increase of Rs1900 to Rs124,750 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 Rs1629 to Rs106,953.

In international market, Gold rose to a two-month high on Monday, bolstered by a retreat in the dollar and persistent inflation concerns after key central banks indicated interest rates would remain low in the near term.

Spot gold was up for the third straight session, rising 0.5% to $1,825.64 per ounce, the highest since Sept. 7. U.S. gold futures settled 0.6% higher at $1,828.

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Elsewhere, spot silver rose 1.2% to $24.45 per ounce, platinum climbed 2.3% to $1,057.75, and palladium gained 1.7% to $2,069.10.