Gold price jumps to Rs98,000 per 10gm


Gold price found its feet and regained positive trac-tion on Friday amid disappointing US economic data.

At 1255 hours GMT, gold in the international mar-ket was available at $1,824.30 per ounce after gain-ing $13.70.

Meanwhile, the price of 10 grams of yellow metal in Pakistan increased to Rs98,000 after gaining Rs600. The closing prices of the yellow metal in the coun-try remained Rs97,400 on Thursday last.

According to experts, gold regained positive traction on the last day of the week and reversed the over-night losses.

They said that a recent series of disap-pointing US economic data, in the ADP jobs and ISM manufacturing employment sub-index, hinted at a dismal non-farm payroll (NFP) print while fur-ther downplaying Fed’s tapering expectations. —TLTP

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