Gold rates move up in domestic market

Gold rates move up in domestic market
The per tola gold price on Friday registered an increase of Rs 1,900 to Rs 109,500 in the domestic market.

Sharing the price of the precious metal, All Pakistan Jewelers Manufacturers Association Chairman Muhammad Arshad said that the rate of 10 grams of gold increased by Rs 1,628 to Rs 93,875.

In the international market, gold edged up on Friday en route to a third straight weekly gain, supported by a subdued U.S. dollar and Treasury yields as concern receded over tapering by the U.S. Federal Reserve.

Spot gold ticked 0.1% higher to $1,877.70 per ounce by 1158 GMT and was up 1.9% on the week. U.S. gold futures fell 0.2% to $1,878.90, according to Reuters.

Earlier on May 10, gold prices witnessed an upward trend as the per tola price of the precious metal had witnessed an increase of Rs100 to Rs106,100 in the domestic market.

Sharing the price of the precious metal, All Pakistan Jewelers Manufacturers Association Chairman Muhammad Arshad had said that the rate of 10 grams of gold increased by Rs86 to Rs90,963.



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