Gold price records increase of Rs1,100 per tola in Pakistan

WEB DESK: In Pakistan, gold prices increased on Friday, with the tola price witnessing a significant rise of Rs1100 in the domestic market.

The price of 24 karat gold, a precious yellow metal, soared by Rs1100, settling at Rs214,400 per tola, as reported by the association. Similarly, the rate for 10 grams of this precious metal increased by Rs943, reaching Rs183,813.

On the international front, gold faced a lack of momentum on Friday, with investors exercising caution ahead of the US non-farm payrolls report, which would provide insights into the Federal Reserve’s monetary policy direction.

Spot gold remained nearly unchanged at $1,986.24 per ounce, while U.S. gold futures showed minimal fluctuations at $1,994.00.

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In contrast, spot silver experienced a 0.6 per cent decline, reaching $22.62 per ounce, marking its second consecutive weekly loss.

Platinum, on the other hand, rose by 0.6 per cent to $925.11, marking its fourth consecutive weekly increase. Additionally, palladium saw a significant increase of 1.8 per cent, reaching $1,119.54.