Pakistan gold price went up on Friday, 24-karat gold was sold at Rs363,700 per tola, it increased by a margin of 1,100 rupees. Similarly, the 24-karat rate of 10 grams was elevated to Rs311,814 of which it gains 943, as per the data provided by the All-Pakistan Gems and Jewelers Sarafa Association (APGJSA).
The 22-karat category was also up, at Rs285,839 per 10 grams. Silver, on the contrary, was not changing in the domestic market, and 24 karat silver was at the same price of Rs4,121 per tola and 3,533 per 10 grams.
Spot bullion was sold at almost $3,407 an ounce on the global scale, which fell by seven or 0.21 per cent below the last session. Regardless of this minor fall, the yellow metal was on the path towards a monthly rise as the investors awaited the imminent release of the U.S. inflation figures, which will probably affect the anticipations regarding the possibility of the Federal Reserve cutbacks in interest rates.
Read more: Gold Price in Pakistan Hits Record High as International Prices Surge
It is observed by market analysts that precious metals are still considered by domestic buyers as a barrier against currency changes and inflation. Demand in the local markets is stable and dealers expect more investors to show their interest in securing their assets.
Altogether, the gold price in Pakistan is responsive to both global and local investment tendencies, which makes the commodity stay on the hot list of traders and buyers.
