Gold prices rise by Rs1,800 per tola in Pakistan

Gold prices rose by Rs1,800 per tola in the local market on Saturday after witnessing a decline for five consecutive days.

According to the All Pakistan Sarafa Gems and Jewellers Association (APSGJA), the price of 24-carat gold per tola rose by Rs1,800 reaching Rs4,33,662 in the local market.

The price of 10 grams of 24-karat gold rose by Rs1, 543 to reach Rs371, 795, while 10 grams of 22-karat gold increased by Rs1,414, bringing the new rate to Rs340, 824.

On international level, gold prices climbed by $18 to $4,113 per ounce, driven by renewed investor confidence amid ongoing economic instability and currency volatility.

Silver prices also raised in line with the broader trend. The rate of 24-karat silver per tola witnessed a hike of Rs57 to reach Rs5, 124, while 10 grams of silver were being sold for Rs4, 393.

Market analysts noted that fluctuations in the interbank exchange rate and uncertainty in global demand continue to impact gold and silver prices in Pakistan.