Gold price in Pakistan rises Rs5,900 per tola

Mettis Global reported that gold prices in Pakistan rose on Friday, with 24-karat gold selling at Rs440,936 per tola, a gain of Rs5,900. The 24-karat rate per 10 grams stood at Rs378,031, a rise of Rs5,058, according to figures from the All-Pakistan Gems and Jewelers Sarafa Association (APGJSA). The 22-karat variety was also priced higher, reaching Rs346,541 for 10 grams.

Silver also moved up in the domestic market, where the 24-karat variety traded at Rs6,512 per tola, up Rs144, and Rs5,582 per 10 grams, up Rs123. Internationally, spot gold was quoted near $4,185 an ounce, having climbed $40.3, or 0.97 per cent, compared with the prior session.

Mettis Global linked the move to a weaker US dollar and lower yields on Treasury securities, which made the metal more appealing. The report noted that investors were still weighing persistent inflation concerns and the path of US Federal Reserve interest rates.