Gold up Rs1,200, global market flat

Gold prices in Pakistan increased on Monday despite little movement in the international market, as local prices reflected a lagged impact of previous global movements. The price of gold per tola rose Rs1,200 to Rs437,536, according to rates released by the All-Pakistan Gems and Jewellers Sarafa Association. The price of 10-gram gold increased by Rs1,029 to Rs375,116. On Saturday, gold had fallen by Rs4,300 per tola. The local market's strength came as international gold prices remained broadly steady, with pressure from a stronger US dollar and elevated Treasury yields offset by reduced expectations of a Federal Reserve rate hike this month. Spot gold edged 0.1% lower to $4,137.79 per ounce by 11:41 am EDT (1541 GMT), while US gold futures for December delivery gained 0.1% to $4,166, as per Reuters. The US dollar index strengthened, making dollar-denominated gold more expensive for buye...