Gold price increases by Rs600 per tola

LAHORE – The price of gold has been increased in Pakistan after the US dollar closed on the all-time high of Rs130, in the interbank market on Friday.

The new gold price would be Rs59,800 after an increase of Rs600 while 10g gold would be available in Rs51,268 with an increase of Rs514.

In the International market, the gold price would be $1224 per ounce after an increase of $9.

The previous prices were Rs59,650 per tola and Rs51,140 for 10g.

Yellow metal price remained in the hands of manipulators in India, Pakistan and other major gold buying countries, as they remained busy influencing current prices and futures on speculations. The potential buyers in India and Pakistan remained busy in hedging.

Buyers made deals according to their immediate needs. Local trading in gold remained dull on back of insignificant buying.