Pakistan sees major increase in gold prices

The price of 24-karat per tola gold witnessed major increase of Rs2,000 and was sold at Rs278,800 on Friday compared to its sale at Rs276,800 on the last trading day.

The price of 10 grams of 24-karat gold also increased by Rs1,715 to Rs239,026 from Rs237,311 whereas the price of 10 grams of 22-karat gold went up to Rs219,107 from Rs217,535, the All Sindh Sarafa Jewellers Association said.

The price of per tola and 10-gram silver remained unchanged at Rs.3,300 and Rs.2,829.21 respectively.

The price of gold in the international market increased.

Spot gold fell 0.7% to $2,687.48 per ounce as of 1224 GMT and was down 1.7% for the week. U.S. gold futures shed 0.4% to $2,694.60.