Gold price increases by Rs1,300 per tola in local market

KARACHI: Gold prices in Pakistan rose on Friday, following a similar trend in the international market.

The price of gold per tola in the local bullion market increased by Rs1,300 and reached Rs267,700.

The rate for 10 grammes of gold also went up by Rs1,115 bringing it to Rs229,510, according to the All-Pakistan Gems and Jewelers Sarafa Association (APGJSA).

This rise came after a massive drop on Thursday when gold prices fell by Rs5,500 per tola to settle at Rs266,400.

For those unaware, last month, gold reached an all-time high of Rs287,900 per tola in Pakistan.

Internationally, gold prices also saw an increase on Friday, with the rate rising by $13 to reach $2,565 per ounce, including a $20 premium, as per APGJSA’s report.

Meanwhile, silver prices remained stable at Rs3,250 per tola.

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