Gold prices in Pakistan rise by Rs 500 per tola

KARACHI: Gold prices in Pakistan witnessed an upward trend on Thursday, in line with an increase in the international rate.

In the local market, gold price per tola rose to Rs242,500 after a single-day gain of Rs500.

The 10-gram gold was sold at Rs207,905 after an increase of Rs429, according to the rates shared by the All Pakistan Gems and Jewellers Sarafa Association (APGJSA).

On Wednesday, gold price per tola was up by Rs1,100.

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The international rate of gold slightly increased on Thursday. As per APGJSA, the rate was set at $2,322 per ounce ((with a premium of $20) after a gain of $2 during the day.

Meanwhile, silver rates remained unchanged at Rs2,650 per tola.

Last week, gold price per tola hit an all-time high of Rs252,200 in Pakistan.

The safe-haven asset had seen a record surge due to geo-political tensions in the Middle East and central banks adding to their gold reserves.