Gold prices continue to increase in Pakistan

KARACHI: Gold prices continued to increase in Pakistan as inflation data in Pakistan pressured economic indicators and the rupee index.
According to All Sindh Sarafa Association, that the 24-Karat gold price in Pakistan surged by Rs1,700 per tola and Rs1,457 per 10 grams to settle at Rs145,700 and 124,914, respectively.
In the international market, the price of yellow metal gained $8 per ounce to settle at $1,714 as the dollar retreated after US jobs data came mostly in line with expectations, but it was still bound for a third consecutive weekly fall pressured by an elevated interest rate environment.
It should be noted that the gold price stands below cost and is cheaper by Rs4,000 per tola compared to Dubai.
Meanwhile, silver prices in the domestic market remained unchanged at Rs1,480 per tola and Rs1,268.86 per 10 grams today. -NNI