A representational image of gold coins. — Reuters/File

Gold closes week with a gain of Rs200 per tola

by Pakistan News
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A representational image of gold coins. — Reuters/File
  • Gold price settles at Rs142,600 per tola.
  • During the week ended, gold gained Rs4,100 per tola.
  • Silver prices in domestic market remain unchanged.

KARACHI: Gold prices finished higher on Saturday to recoup a slight loss incurred a day earlier, as it gained respite from the expectations of a rate hike in the upcoming monetary policy announcement scheduled next week.

The precious commodity gained Rs200 per tola and Rs171 per 10 grams — the exact same losses recorded a day earlier — to settle at Rs142,600 and Rs122,256, respectively.

During the week ended, the price of gold recorded an overall gain of Rs4,100, or 2.96%, per tola.

It should be noted that the gold price is standing below cost. Gold is cheaper by Rs3,000 per tola compared to its price in Dubai.

In the international market, bullion prices declined by $5 per ounce to settle at $1,747 as investors watched for signs of further policy tightening by the US Federal Reserve

Meanwhile, silver prices in the domestic market remained unchanged at Rs1,540 per tola and Rs1,320.30 per 10 grams today.

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