F.P. Report
KARACHI: The gold prices in Pakistan increased by Rs1100 per tola in the domestic market on Friday.
According to the All Pakistan Jewellers Manufacturers Association, per tola price of the precious yellow metal hiked by Rs1100 to settle at Rs216,800.
Similarly, the price of 10 grams jacked up by Rs943 to Rs185,871. The price of gold in the international market increased by $10 to $2,067.
Gold prices hovered near a month high on Friday after data suggested easing U.S. price pressures, reassuring investors vouching for a June interest rate cut by the Federal Reserve.
Spot gold edged 0.1% higher to $2,044.60 per ounce, as of 0808 GMT, after hitting $2050.59 on Thursday – its highest level since Feb. 2. Bullion was headed for a second consecutive weekly gain.
Spot platinum fell 0.2% to $871.06 per ounce, and palladium dropped 0.3% to $939.12. Both posted a second monthly decline, with palladium touching more than five-year lows of $849.13.
Spot silver fell 0.4% to $22.59 per ounce.
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