The price of 24 karat gold per tola witnessed another massive increase of Rs5400 on Wednesday, reaching Rs226,400.
All Sindh Sarafa Jewellers Association said that the price of 10 grams of 24 karat gold witnessed an increase of Rs460, reaching the price at Rs194,103.
The global per ounce rate of gold reached $1973 after an increase of $6.
The gains were supported by softer dollar, while investors are currently anticipating U.S. retail sales data that could have a bearing on the Federal Reserve’s policy outlook as inflation shows signs of cooling, as Reuters reported.
Moreover, the U.S. dollar index (DXY) has extended its decline, currently 0.17% lower on the day, this makes dollar-denominated gold expensive for investors holding other currencies.
