Gold prices in Pakistan rise after sharp fall in local and global markets
The latest change has caught the attention of buyers and investors watching the precious metal closely.
According to the All Pakistan Sarafa Association, the price of 24-karat gold increased by Rs300 per tola. After the increase, one tola of gold is now priced at Rs427,736.
The price of 10 grams of gold also moved up by Rs257. It has reached Rs366,714 following the latest increase.
Silver prices, however, moved in the opposite direction. The price of one tola of silver fell by Rs12 to Rs6,297.
In the international market, gold prices also recorded a small gain. The price of gold increased by $3 per ounce, taking it to $4,053 per ounce.
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The latest increase comes a day after gold and silver prices recorded a sharp decline. International gold prices had fallen by $46 per ounce to $4,050.
In the local bullion market, one tola of gold had dropped by Rs4,600. After that decline, the price had reached Rs427,436 per tola.
The price of 10 grams of gold had also fallen by Rs3,944 to Rs366,457. Meanwhile, one tola of silver had declined by Rs61 to Rs6,309.
Market experts say small changes in global gold prices can quickly affect local rates. Buyers are now watching closely to see whether prices continue to rise or change direction again.
Gold prices often move with changes in the international market and investor demand. The latest increase is small, but it suggests the market is still reacting to global price movements after the recent sharp decline.
