Gold price surges in Pakistan after previous day fall

ISLAMABAD: The price of gold in Pakistan rose sharply on Friday, with the price of a tola increasing by Rs6,900 to Rs460,336, according to the All-Pakistan Gems and Jewellers Sarafa Association.

The price of 10 grammes of 24-karat gold increased by Rs5,914 to Rs394,663.

The latest increase comes a day after gold prices fell by Rs3,800 per tola to Rs453,436. The decline on Thursday had followed a Rs7,900 jump in the previous session.

Gold prices had also fallen by Rs7,800 over the two sessions before Wednesday’s rally, underscoring continued volatility in the domestic bullion market.

On Thursday, the price of 10 grammes of 24-karat gold stood at Rs388,749, while 10 grammes of 22-karat gold were priced at Rs356,364.

The latest increase means the price of a tola of gold has risen by Rs6,900, or about 1.5 per cent, from Thursday’s level.