Gold price increases as silver becomes cheaper in Pakistan
Global gold prices rose by $6 to reach $4,125 per ounce.
In the local bullion market, the price of 24-karat gold increased by Rs600 per tola. The new price reached Rs435,036 per tola.
10-gram gold also becomes costlier
The price of 10-gram gold also increased by Rs515. After the latest increase, 10-gram gold is now priced at Rs372,973.
The rise comes after a sharp decline in gold prices in both global and local markets a day earlier. The latest movement shows continued changes in precious metal prices.
Silver price moves lower
Unlike gold, the price of silver declined in the local market. One tola of silver became cheaper by Rs120, bringing its price down to Rs6,368.
The opposite movement in gold and silver prices has created a mixed trend in the bullion market. Buyers and investors are now watching the next movement in international prices closely.
Gold had fallen sharply earlier
According to the All Pakistan Sarafa Association, 24-karat gold had fallen by Rs3,100 per tola a day earlier. Its price had dropped to Rs434,436 per tola after the decline.
The price of 10-gram gold had also fallen by Rs2,658 to Rs372,458. The latest increase has partly reversed the previous day’s decline.
Gold prices remain sensitive to movements in the international market. Even small changes in global prices can affect rates in Pakistan.
Silver, meanwhile, has moved in the opposite direction in the latest session. Buyers may continue watching international market trends before making decisions about gold and silver purchases.
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