Daily Times

Gold price in the country increased for the sixth consecutive session by Rs100 on Thursday, following an overnight increase in the prices in the international markets. According to the data provided by the All Pakistan Gems and Jewellers Sarafa Association, the price for one tola of 24-karat gold increased to Rs 215,300 from Rs 215,200. Similarly, the price for 10 grams of 24-karat gold surged to Rs184,585 from Rs 184,500, showing an uptick of Rs 85. Following suit, the price for 10 grams of 22-karat gold increased to Rs169,203 from Rs169,124, showing a surge of Rs 79. During the month of January, the price for one tola of 24-karat gold decreased by Rs 4,500 to Rs 215,500 from Rs220,000 amid a drop in international prices and the continuous strengthening of the Pakistani rupee. However, gold price in the country surged by Rs 2,100 (-0.98 percent) per tola last week due to a rise in prices in the international markets due to geopolitical tensions. On the other hand, gold futures in the international market as of 1255 hours GMT were available at $2,027.60 per ounce, showing an uptick of $1.90. Out of the $1.90 increase, +$3.90 was due to weakening of the US dollar and -2 was due to predominant sellers, according to the Kitco Gold Index. Gold price moved closer to over a one-week high touched the previous day.