Islamabad
Gold price went up on Monday after losing over $100 an ounce in its value during the last week.At 13:55 GMT, gold in the international market was trading at $1,775.60 an ounce after gaining $10.50 an ounce in its value as compared to its closing value on Friday last.
The US Federal Reserve’s hiking of interest rates is the main reason for gold’s drop down.
Meanwhile, the price of 10 grams of yellow metal in Pakistan increased to Rs90,000 with a gain of Rs200. The price of yellow metal in the country remained Rs89,800 on Friday.
The Federal Reserve on Wednesday considerably raised its expectations for inflation this year and brought forward time frame on when it will next raise interest rates.
