Gold price rises in domestic market

KARACHI: The per tola gold price on Saturday registered an increase of Rs100 to Rs103,900 in the domestic market.

Sharing the price of the precious metal, All Pakistan Jewelers Manufacturers Association Chairman Muhammad Arshad said that the rate of 10 grams of gold increased by Rs81 to Rs89,077.

In the international market, gold prices fell more than 1% on Friday, weighed down by a jump in U.S. Treasury yields and a rebound in the dollar, but bullion was still on course for its first weekly gain in three weeks.

Spot gold was 0.7% lower at $1,744.07 per ounce by 1:44 p.m. EDT (1744 GMT), having hit its highest price since March 1 at $1,758.45 on Thursday. For the week, however, prices were up about 0.9%, according to Reuters.

Earlier on April 7, gold rates had remained unchanged in the domestic market on Wednesday.

One tola of yellow metal had been traded at Rs103,900 while 10 grams of gold at Rs89,077, according to Muhammad Arshad, chairman of the All Pakistan Jewelers Manufacturers Association.

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