On Friday, the price of gold in the local market increased by Rs. 800 per tola, driven by a rise in international gold prices.
According to data from the Karachi Sarafa Association, the price of 24-carat gold climbed to Rs. 241,500 per tola, while the price for 10 grams rose by Rs. 686, reaching Rs. 207,047.
Also Read: Gold Rate in Pakistan – 12 June 2024
This increase followed a previous day’s dip in gold prices, where the precious metal had dropped by Rs. 1,200 per tola.
In the international market, gold prices were poised for their first weekly gain in four weeks, spurred by US economic data suggesting a softening in price pressures. This development fueled optimism about a potential rate cut by the Federal Reserve. Spot gold increased by 0.8 percent to $2,320.90 per ounce by 0959 GMT, marking a weekly gain of 1.3 percent so far.
