Gold prices go up locally, globally

Gold prices in Pakistan registered a gain on Tuesday, following an increase in the international market.

The price of gold per tola rose by Rs700, reaching Rs275,200, while the price of 10 grams of gold increased by Rs600, reaching Rs235,940, according to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA).

This uptick comes after a decline in the previous two sessions, including a drop of Rs1,700 per tola on Monday.

The international gold price also saw a rise, reaching $2,640 per ounce, with an additional premium of $20. This marked a $7 gain in the global market.

Meanwhile, silver prices in Pakistan remained stable, holding steady at Rs3,400 per tola.

The global increase in gold prices is attributed to growing expectations that the US may cut interest rates this month, as market focus shifts to upcoming economic data for further direction.