Gold price per tola gains Rs5,900 in Pakistan
- International gold hits near 3-week peak on rate cut bets
Gold prices in Pakistan increased on Tuesday in line with their gain in the international market. In the local market, gold price per tola reached Rs435,762 after a gain of Rs5,900 during the day.
Similarly, 10-gram gold was sold at Rs373,595 after it registered an increase of Rs5,065, according to rates shared by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA).
On Monday, gold price per tola reached Rs429,862 after a gain of Rs7,400 during the day.
The international rate of gold also increased today. As per APGJSA, the rate was at $4,134 per ounce (with a premium of $20), an increase of $59 during the day.
Moreover, silver price increased by Rs144 per tola to reach Rs5,353.
Meanwhile, international gold extended gains to a near three-week high on Tuesday, helped by growing expectations of another US Federal Reserve interest rate cut in December and signs of an end to the US government shutdown.
Spot gold was up 0.7% at $4,142.83 per ounce by 0314 GMT, its highest since October 24.
US gold futures for December delivery rose 0.7% to $4,148.50 per ounce.
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