10gm gold price increases to Rs88,600

Gold rate in Pakistan

Gold prices went up by 0.6 percent in the international market on Friday amid falling bond yields and a weaker US dollar.

At 1230 hours GMT, gold in the international market was trading at $1,795.20 an ounce after gaining $10.30 an ounce in its value as compared to its closing value on Thursday last.

Resultantly, the price of yellow metal in the country went down and the price of 10 grams yellow metal was recorded at Rs88,600 after gaining Rs900.

The price of 10 grams gold was recorded at Rs87,700 on Thursday last. According to commodity experts, gold could rise further from current levels.

They say that small saving schemes yield going below the rising inflation rate and rising Covid-19 fear may once again help precious bullion boost its safe-haven appeal. —TLTP

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