ISLAMABAD: The per tola rate of 24 karat gold increased by Rs 1,600 and was sold at Rs 245,600 on Thursday compared to its sale at Rs 244,000 on last trading day, ARY News reported.
The price of 10 grams of 24 karat gold also increased by Rs 1,371 to Rs 210,562 from Rs 209,191 whereas the prices of 10 gram 22 karat gold went up to Rs 193,016 from Rs 191, 758, the All Sindh Sarafa Jewellers Association reported.
The price of per tola silver increased by Rs.80 to Rs2,730 whereas that of ten gram silver went up by Rs.68.59 to Rs2,340.53.
The price of gold in the international market increased by $25 to $2,390 from $2,365, the association reported.
Gold prices inched up on Thursday following a sharp rise in the previous session as the dollar and bond yields weakened after the U.S. consumer inflation data boosted the likelihood of rate cuts by the Federal Reserve as early as September.
READ: Gold drifts higher as rising Fed rate cut bets boost appeal
Spot gold rose 0.2% at $2,391.78 per ounce, as of 0553 GMT, after hitting its highest in over three weeks on Wednesday. U.S. gold futures rose 0.1% to $2,396.10.
“With inflation coming off the boil, gold is effectively making hay while the sun is shining and looks poised to capture the $2,400 level,” said Tim Waterer, chief market analyst at KCM Trade.
“However, a potential bounce in the dollar or treasury yields could be the biggest hurdle for gold price in the remainder of the week.”
from ARY NEWS https://ift.tt/YWR2TiJ
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