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.
Peyton Manning joins Denver NWSL ownership
- 5 hours ago
Apple ordered to keep web links in the App Store
- 6 hours ago
Trump’s travel ban on 12 countries begins Monday
- 13 hours ago
Over 7m animal hides expected nationwide this Eid
- 12 hours ago
Fire guts factories in Karachi’s Landhi zone, 5 injured
- 12 hours ago
Grief on Eid: Gaza sees heavy civilian death toll
- 12 hours ago
Texas into WCWS finals for third time in 4 years
- 5 hours ago
Iran says it has acquired Israel’s full nuclear archive
- 11 hours ago
Curfew, internet shutdown imposed in India’s Manipur amid fresh ethnic clashes
- 12 hours ago
Gwadar shaken by shallow earthquake
- 13 hours ago
Sources: Royals calling up top prospect Caglianone
- 5 hours ago
LG’s first 5K ultra-wide monitor with Thunderbolt 5 is made for data crunchers
- 6 hours ago
