KARACHI: On Thursday, the price of gold in Pakistan increased by Rs850 per tola, despite a fall in the worldwide market.
The price of yellow metal increased by Rs850 per tola and Rs720 per 10 gram, respectively, to Rs123,650 per tola and Rs106,010 per 10 gram.
The precious metal had closed the previous day at Rs122,800 per tola and Rs105,281 per gram.
During the monthof November, the safe-haven asset earned Rs5,300 per tola or 4.5 percent.
Meanwhile, gold fell $9 per ounce to $1,777 on the international market, as remarks from US Federal Reserve Chairman Jerome Powell on the need to control inflation strengthened forecasts for quicker monetary policy tightening and countered Omicron-driven safe-haven inflows into metal.
Both domestic and foreign investors are now waiting for the November employment data from the United States, which will be released later on Friday.
It’s worth noting that gold prices in Pakistan are roughly Rs2,000 lower than those in Dubai.
Meanwhile, domestic silver prices stayed constant at Rs1,460 per tola and Rs1,251.71 per ten gramme