Gold price in Pakistan today: per tola rate increases by Rs1,300

KARACHI: Gold prices have once again recorded an increase in both the international and local markets.

According to the All Pakistan Gems and Jewellers Association, the price of gold in the local market rose by Rs1,300 per tola, bringing the new rate to Rs423,862 per tola.

Similarly, the price of 10 grams of gold increased by Rs1,115, reaching Rs363,393.

It is worth mentioning that two days ago, the price of gold per tola had dropped by Rs1,600, bringing it down to Rs422,562.

Global market

Gold prices steadied on Monday as a stronger US dollar and cooling trade tensions between Washington and Beijing kept investors cautious, reducing the metal’s appeal as a safe haven.

Spot gold slipped slightly by 0.1 percent to $3,997.94 per ounce at 0250 GMT, while US gold futures for December delivery edged up 0.3 percent to $4,008.60 per ounce.

The yellow metal has fallen nearly 10 percent since touching an all-time high of $4,381.21 on October 20, weighed down by the dollar’s rebound to a near three-month peak.