Gold price goes up in Pakistan amid economic uncertainty

Lahore:  The gold rate in Pakistan went up on Saturday for the second consecutive session as the safe-haven metal became the main focus amid the economic uncertainty.

All-Pakistan Sarafa Gems and Jewellers Association (APSGJA) released the data, showing the price of gold (24 carats) going u by Rs400 per tola and Rs343 per 10 grams to settle at Rs198,400 and Rs170,096, respectively , in the local markets.

The data also showed that the local gold is Rs2,000 “overcost” compared to the Dubai bullion market.

Silver prices, meanwhile, in the domestic market remained stable at Rs2,160 per tola and Rs1,851 per 10 grams, respectively.

The gold in the global market stayed at $1,865 as markets awaited US inflation data next week that could impact the Federal Reserve’s monetary policy trajectory.