GOLD CONTINUES UPWARD JOURNEY
KARACHI: Gold prices continued their upward trend for the third consecutive day as the per tola price of the precious metal on Wednesday witnessed an increase of Rs 850 to Rs 110,200 in the domestic market, ARY News reported.
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 728 to Rs 94,478.
In the international market, the yellow metal’s prices rose on Wednesday, up further from the seven-week lows hit late last week, lifted as the U.S. dollar weakened a day after Federal Reserve Chair Jerome Powell said inflation would not be the only determinant of interest rate decisions.
According to Reuters, spot gold rose 0.4% to $1,785.32 per ounce by 12:34 pm EDT (1634 GMT) and U.S. gold futures were up 0.5% to $1,786.60.