Gold price in Pakistan rises Rs4,200 per tola

Local gold rates climbed on Wednesday, according to Mettis Link News, with 24-karat gold quoted at Rs463,936 per tola after a rise of Rs4,200. The All-Pakistan Gems and Jewelers Sarafa Association, whose rates the report cites, put the 24-karat price per 10 grams at Rs397,750, a gain of Rs3,601. The 22-karat variety was quoted higher at Rs364,617 per 10 grams.

Silver also moved up in the domestic market, with 24-karat silver priced at Rs7,111 per tola, a rise of Rs146, and Rs6,096 per 10 grams, up Rs125. In international trading, spot gold changed hands near $4,413 an ounce, a gain of $42.1 or 0.96% from the previous session.

Mettis Link News added that market participants were looking ahead to a significant American inflation release. The data could change expectations for monetary policy.