Gold glitters, price surges Rs2,250 to cross Rs155,000

Karachi: The gold price jumped Rs2,250 per tola in local bullion markets of the country on Friday. 

Data released by the All Pakistan Sarafa Gems and Jewellers Association (APSGJA) showed that the price of gold surged by Rs2,250 per tola and Rs1,929 per 10 grams to settle at Rs155,400 and Rs133,230, respectively.

On the physical side, demand for gold in Pakistan picked up pace this week as the wedding season kicks off.

In the international market, the price of the yellow metal soared by $52 per ounce settling at $1,760.

Gold prices were headed for their best week in more than two years after extending gains on Friday as signs of cooling inflation raised hopes that the Federal Reserve might temper its hawkish policy.