Gold prices rise

KARACHI: The weakening rupee value against the US dollar has scaled up gold prices on the local market, traders said on Tuesday. Now, the gold prices saw a hefty increase in a single day trade of Rs 4,200 to Rs 132,000 per tola.

Gold per 10 grams price surged to Rs 113,161 by Rs 3,600, as traders reflected on depreciating rupee strength for big increases in the yellow metal value. It cited traded for $ 1802 an ounce on the world market, "the international market is nearly stagnant, they pointed out.

Silver prices grew to Rs 1,520 per tola, after up by Rs 50. The price of silver per 10 grams went up by Rs 42.87 to Rs 1303.15 and $ 24.40 per ounce, traders said.

Copyright Business Recorder, 2021