Gold prices increase by Rs400 per tola in domestic market

KARACHI: The per tola gold price witnessed an increase of Rs 400 to Rs 112,000 in the domestic market on Tuesday.

Likewise, the price of 10-gram gold witnessed an increase of Rs 342 and was traded at Rs 95021, said All Pakistan Jewelers Association.

According to Reuters, gold prices, in the international market, rose to its highest in a week on Tuesday as the dollar weakened and hopes rose for an additional fiscal stimulus for the American economy, ahead of the first U.S. presidential debate

Spot gold gained 0.5% to $1,889.85 per ounce at 10:34 a.m. EDT (1434 GMT) while U.S. gold futures climbed 0.7% to $1,895.70.

Earlier on September 26, gold prices had continued to fall in Pakistan as the per tola price of the yellow metal registered a decrease of Rs500 to Rs111,500 in the domestic market.

Likewise, the rate of 10 grams of the precious metal had decreased by Rs427 to Rs95,593, according to the All Pakistan Jewelers Association.

According to Reuters, gold prices had fallen on Friday and were on track for their biggest weekly fall in six, hurt by a resilient dollar, which benefited from increased risk aversion at bullion’s expense.

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