KARACHI: The local gold prices maintained an upward trajectory on Monday, soaring by Rs111,000 per tola and 95,165 per 10-grams.
The rates were up by Rs350 per tola and Rs300 per 10-grams compared to Saturday’s prices.
Gold prices clocked in at R110,650 (+Rs850) per tola and Rs94,865 (+Rs729) on Saturday [August 28].
Downward trends in domestic and global currencies allowed investors to relocate investment from currency markets to gold markets.
However, the bullion prices are expected to say volatile in the ongoing week.
Shedding light on the forecast for this week, AA Gold Commodities Director Adnan Agar told Geo.tv that monthly employment data of the US is scheduled to be announced on Friday, which is one of the most important gold price determinants.”
Agar said: “Prices are expected to stay in a range of $1,780 to $1,840.”