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Published 22 Dec, 2023 04:43pm

Gold price up by Rs1,800 to hit Rs219,800/tola in Pakistan

The price of gold increased by Rs 1,800 to hit Rs 219,800 per tola on Friday against the price of Rs218,000 the previous day in the local market of Pakistan, the All Sindh Sarafa Jewellers Association reported.

The price of 10 grammes of gold also increased by Rs1,543 to Rs188,443, as against the price of Rs186,900 on Thursday.

Likewise, the price of 10 grammes of 22 karat gold went up to Rs172,740 from Rs171,325 from the last trading session.

The price of per tola and ten grammes silver remained unchanged at Rs2,650 and Rs2,271.94, respectively.

In the international market, gold prices rose to their highest level in nearly three weeks on Friday as the dollar and bond yields fell ahead of key US inflation data that could offer more clarity on the Federal Reserve’s interest rates path next year.

Spot gold was up 0.5% to $2,054.50 per ounce and US gold futures rose 0.8% to $2,067.40.

Gold rose to its highest since December 4 earlier in the session and is set for a 1.8% weekly rise, its second in a row.

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