Gold maintains upward trajectory in Pakistan, price jumps Rs2150 per tola

Karachi: Gold continued maintaining upward trend in the local bullion markets of Pakistan on Tuesday and gained Rs2,150 in value.

According to the Sindh Sarafa Bazar Jewellers Association, the per tola price of gold surged by Rs2,150 to settle at Rs148,450 per tola, while the price of 10 grams gold up by Rs1,843 to settle at Rs127, 272 per tola. 

Investors are still nervous ahead of the monetary policy announcement on how aggressive the State Bank of Pakistan (SBP) will be. Investors are now eyeing the MPC’s decision due on Monday (October 10).

In the international market, the price of the yellow metal jumped by $38 to $1,704 per ounce on a retreat in the dollar and US Treasury yields as investors expected the Federal Reserve to tone down its pace of monetary tightening.