ISLAMABAD: Gold price surged on Friday though a stronger US dollar capped most of the gains. As of 1315 hours GMT, gold in the international market was available at $1,942.50 per ounce, gaining $60. Out of a $6 per ounce increase, -$17.65 was due to the dollar’s strengthening and +$23.65 was due to predominant buyers, according to Kitco Gold Index. The price of 10 grams of 24-carat yellow metal in Pakistan, meanwhile, increased to Rs111,300 after gaining Rs900. Gold in the local market was available at Rs110,400 on Thursday last. The local prices increased due to overnight increase in gold prices internationally when the local market was closed. However, appreciation of the Pakistani rupee against the US dollar during the day impacted the gold prices negatively. TLTP
