KARACHI: Gold prices on Monday recorded an increase of Rs350 in the domestic market, according to Pakistan Jewelers Manufacturers Association Chairman Muhammad Arshad.
The per tola rate of the precious metal witnessed an increase of Rs350 to settle at Rs126,350. The price of 10 grams of gold increased by R300 to Rs108,325 in the local market.
Meanwhile, silver prices in the domestic market remained unchanged at Rs1,470 per tola.
Gold prices steadied on Monday as tensions over Ukraine buoyed its safe-haven allure, while investors held off on big moves ahead of a Federal Reserve meeting this week that could provide clues on the U.S. central bank’s interest rate trajectory.
Spot gold was little changed at $1,834.00 per ounce. U.S. gold futures rose 0.1% to $1,834.20.
Spot silver dropped 2.4% to $23.65 an ounce and platinum slipped 1.9% to $1,009.92, while palladium rose 1.8% to $2,144.15.