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Gold price gains Rs400 per tola, traded at Rs125,700


— Reuters/File
— Reuters/File
  • International gold price edges higher by $16 to close at $1,805 in thin, yet supportive, year-end trading.
  • Price of the precious commodity rise by Rs343 per 10 grams to settle at Rs107,767.
  • Silver prices in the domestic market remain unchanged.

KARACHI: In line with the international market, gold prices in Pakistan recorded a gain of Rs400 per tola on Thursday to settle at Rs125,700.

The price of the precious commodity rose by Rs343 per 10 grams to settle at Rs107,767 per 10 grams, respectively.

The international gold price edged higher by $16 to close at $1,805 in thin, yet supportive, year-end trading en route to a weekly gain, although an improved risk appetite capped bullion’s rise.

Thin trading and Christmas buying are keeping gold above the $1,800 level, said Michael Langford, director at corporate advisory AirGuide. He added that the rise of risk-on investments ahead of Christmas, called a “Santa Claus rally”, was creating a bit of a short-term positive for the metal.

“Globally, the main driver for gold moving again above the $1,800/ounce mark are rising US inflation expectations as gauged by the breakeven,” said UBS analyst Giovanni Staunovo.

Meanwhile, silver prices in the domestic market remained unchanged at Rs1,460 per tola and Rs1,251.71 per 10 grams.

— With additional input from Reuters



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