The price of gold in the local market rose by Rs. 800 per tola on Friday due to an increase in international gold prices.
According to data issued by the Karachi Sarafa Association, the price of gold (24 carats) rose by Rs. 800 per tola to Rs. 241,500, while the price of 10 grams went up by Rs. 686 to Rs. 207,047.
Yesterday, the price of the precious metal in the country had dipped by Rs. 1,200 per tola.
In the international market gold prices were on track for their first weekly gain in four after US economic data indicated a softening of price pressures, fueling optimism of a rate cut by the Federal Reserve.
Spot gold rose 0.8 percent to $2,320.90 per ounce by 0959 GMT. Gold has gained 1.3 percent during the week so far.
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