KARACHI: Gold prices continued their upward trend as the per tola rate of the precious metal on Thursday witnessed increase of Rs1900 to Rs124,750 in the domestic market, ARY News reported.
Sharing the price of the precious metal, All Pakistan Jewelers Manufacturers Association Chairman Muhammad Arshad said that the rate of 10 grams of gold increased by Rs1629 to Rs106,953.
In the International market, Gold prices neared the five-month high they touched in the previous session after data showing U.S. consumer prices surged last month triggered a rush for the precious metal seen as a hedge against inflation.
Spot gold rose 0.6% to $1,860.18 per ounce. U.S. gold futures for December delivery rose 0.9% to $1,865.50.
Gold rose as much as 2% on Wednesday and hit its highest level since mid-June after data showed U.S. consumer prices rose at their fastest pace in 31 year.
Elsewhere, spot silver rose 1.7% to $25.05 per ounce, hitting its highest since Aug. 6 earlier in the session.
Platinum gained 1.9% at $1,087.75 per ounce and palladium jumped 2.7% to $2,075.09.
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