Gold price in Pakistan increases by Rs1,800 per tola

WEB DESK: In a noteworthy development on Friday, gold prices in Pakistan witnessed a significant surge, mirroring the uptick in the global market.

The precious metal is now valued at Rs219,800 per tola, marking a substantial increase of Rs1,800.

According to the latest figures released by the All Pakistan Gems and Jewellers Sarafa Association (APGJSA), the 10-gramme gold is now trading at Rs188,443, reflecting a notable uptrend with an increment of Rs1,543.

This comes on the heels of a Rs500 per tola decrease in gold prices observed on Thursday.

The international gold rate, commanding a $20 premium, reached $2,074 per ounce on Friday, following a $19 surge in the global market, as reported by APGJSA.

These fluctuations underscore the dynamic nature of the precious metal’s value on the world stage.

Read more: Fake Rs5,000 banknotes flood Pakistani markets

Meanwhile, in a contrasting trend, silver rates remained resiliently stable at Rs2,650 per tola, maintaining their position amidst the shifts in the precious metals market.

This development adds an extra layer of complexity to the dynamics of the local and global markets, presenting both challenges and opportunities for investors and traders alike.