Gold rises Rs6,900 on global bullion strength
Gold prices in Pakistan surged following international market trends, despite a stronger US dollar and lower crude oil prices. The increase reflects global bullion strength and local market adjustments.
Why it matters
Fluctuations in gold prices are a key indicator of economic stability and investor sentiment regarding inflation and currency strength.
--> Home Business Gold rises Rs6,900 on global bullion strength International prices hit one-week high; rupee inches up to 277.25/$
facebook --> twitter --> whatsup --> linkded --> email MORE (3) Messenger Whatsapp --> KARACHI: Gold prices in Pakistan rose sharply on Friday, tracking gains in the international bullion market, as softer crude oil prices eased concerns over prolonged inflationary pressures while a stronger US dollar limited the advance.
The price of gold increased by Rs6,900 per tola to reach Rs460,336, according to rates released by the All-Pakistan Gems and Jewellers Sarafa Association. The price of 10-gram gold increased by Rs5,914 to Rs394,663.
The latest increase came after gold prices had fallen by Rs3,800 per tola on Thursday, closing at Rs453,436. Friday's market move therefore more than reversed the previous day's decline and pushed the local price to a new level for the week.
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