Gold rises Rs2,400 ahead of US inflation data

Gold rates in Pakistan climbed on Tuesday, according to the All-Pakistan Gems and Jewellers Sarafa Association, with a tola now priced at Rs459,736 after a Rs2,400 rise. Ten-gram gold gained Rs2,058 to Rs394,149, and silver added Rs62 to reach Rs6,965 per tola.

On the international market, spot gold rose 0.2% to $4,396.87 an ounce by 11:05 am EDT, after peaking at $4,434.84 earlier in the session, its highest since June 5, Reuters reported. Traders are awaiting Wednesday's US consumer price release, due at 08:30 am ET, which could shape expectations for Federal Reserve policy.

Adnan Agar, Interactive Commodities Director, said gold remains on an upward trend, while noting that conflicting reports about US-Iran developments are a factor to watch in the coming days. Elsewhere, the Pakistani rupee closed at 277.67 against the dollar, and the greenback held steady against major currencies.