Gold prices see a hike of Rs3,700 per tola in Pakistan

In the international market, the price of gold reached $3,986.23 per ounce on Thursday due to economic uncertainty and a weaker US dollar.

The price of gold in the local market rose by Rs3, 700 per tola, reaching Rs423, 602, while 10 grams of gold increased by Rs3,112, reaching Rs362,707.

The per-gram rate in the local market is at around Rs36, 270.

Spot gold rose 0.1% to $3,986.23 per ounce early Thursday, while US gold futures for December delivery climbed to $3,994.60 per ounce.

Analysts suggest that the modest drop in the US dollar from its four-month peak, along with concerns about the US economic outlook and the possibility of a government shutdown, has supported the recent uptick in gold prices.

The upward movement in domestic prices aligns with the global market, where gold continues to edge higher due to ongoing economic uncertainties.