Gold buyers in Pakistan are facing another increase in prices as the precious metal continues its upward movement in the local market. The latest rise has pushed the per-tola gold rate to Rs. 456,536.
The All-Pakistan Gems and Jewellers Sarafa Association reported that gold became Rs2,200 more expensive, taking the price of one tola to the latest level. The rate for 10 grams also increased by Rs. 1,887 and reached Rs. 391,406.
The new increase follows a major jump recorded a day earlier, when the price of gold went up by Rs. 5,100. The continued rise has kept gold prices on an upward track and may make jewellery purchases more expensive for consumers.
The trend is also being seen in international markets, where gold prices gained $22. The global price reached $4,341 per ounce, including a $20 premium. Changes in international gold rates often influence prices in Pakistan, along with other market factors.
Silver, however, recorded a decline during the latest trading session. Its price dropped by Rs. 113 per tola in Pakistan, bringing the rate down to Rs. 6,826.
The contrasting movements in gold and silver come amid changing conditions in global precious metal markets. Local buyers and investors are closely following international trends as they continue to affect domestic prices.
With gold already trading at a high level, further movements in global markets could lead to additional changes in prices across Pakistan. Consumers planning to purchase gold may therefore continue to see fluctuating rates in the local market.
