The local metal settles at Rs144,000 per tola
Karachi: Gold prices continued its upward trend in the local bullion markets on Friday amid weakening of local currency against the US dollar and bleak economic outlook.
Data released by All Sindh Sarafa Association showed the gold price in Pakistan jumped by Rs3,000 per tola and Rs2,572 per 10 grams to settle at Rs144,000 and Rs123,457.
The gold market has seen consistency in the last few days as the rupee rallied. However, the local currency resumed its downward slide, which lifted gold prices.
Cumulatively, the price of yellow metal soared by Rs5,000 per tola in the last two sessions (Thursday-Friday).
The price of yellow metal gained $3 per ounce to settle at $1,705 in the international market as the dollar paused while investors awaited key US jobs data, amid expectations the Federal Reserve would continue with steep interest rate hikes in coming months.
9 reasons to watch the 2026 World Cup
- an hour ago
The US-Iran ceasefire is breaking down
- an hour ago
The App Store is going to add subscription bundles soon
- 3 hours ago
Finance Minister presents economic survey; several economic targets remain unmet, economic growth recorded at 3.7%
- 16 hours ago
.webp&w=3840&q=75)
Ishaq Dar contacts Turkish Foreign Minister, discusses changing regional situation
- 12 hours ago
The Legend of Zelda: Ocarina of Time is getting a remake for the Switch 2
- 3 hours ago
Microsoft AI chief walks back comments about AI taking over white-collar work
- 3 hours ago
Mohmand:security forces operation reveals killed khwarij as fghan national
- 14 hours ago
Everyone’s a girl’s girl on TV. Until they’re not.
- an hour ago
Pakistan intensifies diplomatic efforts for release of citizens held hostage by Somali pirates
- 16 hours ago
Apple wants Europe to blink
- 3 hours ago
The next victim of the Supreme Court’s voting rights decision will be workers
- an hour ago
.jpg&w=3840&q=75)
