KARACHI: In Pakistan, the price of gold crossed the crucial threshold of Rs. 155,000 a tola in response to an increase in demand brought on by the wedding season.The price of gold increased by Rs 2,250 per tola and Rs 1,929 per 10 kilos, respectively, according to data supplied by the All Pakistan Sarafa Gems and Jewellers Association (APSGJA). These prices eventually settled at Rs 155,400 and Rs 133,230.
As the wedding season began this week, tangible demand for gold increased in Pakistan.The price of the yellow gold increased by $52 per ounce and reached $1,760 on the world market. After extending gains on Friday, gold prices were on track for their best week in more than two years as signs of slowing inflation fuelled optimism that the Federal Reserve could tone down its aggressive stance.In addition to a technical break above the October highs, the probability of gold reaching $1,800 has increased significantly on the global market.
