Gold price rises in Pakistan again amid global market push
Global rates push local market higher
The price of gold continued to rise in international and local bullion markets. Gold became Rs2,000 more expensive per tola, reaching Rs440,636.
The increase came after gold prices rose by $20 per ounce in the international bullion market. The global price reached $4,181 per ounce after the latest increase.
Gold prices climb in local markets
The rise in international gold prices also affected Pakistan’s local bullion markets. The price of one tola of gold increased by Rs2,000 and reached Rs440,636.
The price of 10 grams of gold also increased by Rs1,715. After the latest rise, 10 grams of gold reached Rs377,774.
Silver prices also move higher
Silver prices also recorded an increase in local bullion markets. The price of one tola of silver rose by Rs50 to Rs6,578.
The price of 10 grams of silver increased by Rs43. The new price of 10 grams of silver has been set at Rs5,639.
Global market remains in focus
Prices of precious metals in the international market continue to influence rates in Pakistan’s local bullion markets. Changes in global gold prices are reflected in domestic rates as international market conditions shift.
The latest increase has made gold jewellery more expensive for consumers. Investors are also closely watching developments in the international precious metals market.
The continued rise in gold prices is increasing the cost of buying jewellery and other gold items. The movement in international prices remains an important factor behind changes in Pakistan’s local market.
Silver has also become more expensive, showing that the latest price movement is not limited to gold. Further changes will depend partly on how precious metal prices perform in global markets.
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