Gold price rises in domestic market

KARACHI: The per tola gold price on Saturday registered an increase of Rs400 to Rs112,200 in the domestic market, a private source 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 343 to Rs 96,193.

In the international market, gold prices steadied near the $1,900-per-ounce level on Thursday as investors awaited key economic readings out of the United States, while a firmer dollar weighed on bullion prices.

Spot gold was up 0.2% at $1,900.30 per ounce by 0654 GMT, after hitting its highest since Jan. 8 at $1,912.50 on Wednesday, Reuters reported.

Earlier on May 27, the per tola price of the yellow metal plunged to Rs 111,800 from 112,100 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 also decreased by Rs771 to Rs95,850 that day.