Gold price goes up in domestic market

KARACHI: Gold prices continued their upward trend as the per tola rate of the precious metal on Saturday witnessed an increase of Rs250 to Rs124,450 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 Rs215 to Rs106,696.

In the international market, Gold prices were set for a fourth straight weekly fall on Friday as caution prevailed ahead of U.S. inflation data that could prompt the Federal Reserve to taper its bond purchases at a faster pace.

Spot gold fell 0.2 % to $1,771.51 per ounce. U.S. gold futures fell 0.2 % to $1,773.30.

Spot silver fell 0.5% to $21.82 per ounce and was headed for a fourth consecutive weekly drop.

Platinum rose 0.4% to $938.00 per ounce and was on track for its first weekly gain in four. Palladium fell 0.5 % to $1,802.90, and was nearly unchanged for the week.