After increase, the 24-karat per tola gold sold at Rs278,000 against its sale at Rs274,300, according to All Sindh Sarafa Jewellers Association.
The association further reorted that the price of 10 grams of 24-karat gold went up by Rs3,172 to Rs238,340 from Rs235,168. The rate of 10 gram 22 karat gold increased to Rs218,479 from Rs215,570, it added.
The price of per tola silver increased by Rs200 to Rs3,450 whereas that of ten gram silver increased by Rs171.47 to Rs2,957, it maintained.
In the international market, gold price added to its intraday gains and climbed to a fresh one-and-half-week high, around the $2,664-2,665 area during the first half of the European session on Thursday, according to FX Street.
The uptrend witnessed since the beginning of the current week is fueled by geopolitical risks stemming from the worsening Russia-Ukraine war, which tends to benefit the safe-haven precious metal. Apart from this, a modest US Dollar (USD) downtick acts as a tailwind for the commodity, the report said.
Meanwhile, expectations that US President-elect Donald Trump s proposed tariffs could spur inflationary pressures and limit the scope of the Federal Reserve (Fed) to cut interest rates remain supportive of elevated US Treasury bond yields. This, along with a generally positive risk tone might hold back traders from placing aggressive bullish bets around the XAU/USD. Next on tap is the US macro data, which, along with Fed speaks, should provide a fresh impetus to the precious metal.