Gold prices rallied ahead of the US interest rate decision. Due to the high price of gold in the global market, the price of gold has increased by Rs 7900 per tola in Pakistan as well.

The US central bank will announce interest rates after its Federal Open Market Committee meeting today. The majority of global experts are expecting a 25 basis points increase in US interest rates.

A rise in interest rates tends to lower gold prices, but ahead of the decision, global gold prices reversed.

The price of gold per ounce has increased by 79 dollars to 4 thousand 347 dollars per ounce in the international exchange.

Global prices have also affected the prices of the local exchange market. According to All Pakistan Sarafa Gems and Jewelers Association, the price of gold per tola in the country increased by Rs 7900 to Rs 4 lakh 57 thousand 236.

Similarly, the price of 10 grams of gold has increased by 6 thousand 773 rupees to 3 lakh 92 thousand 6 rupees.