Gold prices in Pakistan continued their upward trend on Tuesday, marking the sixth consecutive daily increase. The latest rise came as international gold prices also climbed.
According to the All-Pakistan Sarafa Gems and Jewellers Association, the price of 24-karat gold increased by Rs2,400 per tola. The new rate reached Rs459,736 per tola.
With Tuesday’s increase, gold has become Rs31,800 more expensive per tola over the past six days. The precious metal had already gained Rs29,400 per tola during the previous five trading days.
The price increase has further pushed gold closer to the Rs460,000 mark in Pakistan. Buyers and investors are closely watching the market as prices continue to move higher.
The price of 24-karat gold also increased for a 10-gram quantity. The rate rose by Rs2,058, reaching Rs394,149.
Meanwhile, 22-karat gold also became more expensive. Its price increased by Rs1,887 per 10 grams to reach Rs361,316.
Gold prices also recorded another increase in the international market. Global gold prices rose by $24 per ounce to reach $4,373.
The continued rise in international gold prices has contributed to higher rates in Pakistan. Domestic gold prices are also influenced by movements in the interbank exchange rate.
Silver prices followed the same upward trend on Tuesday. The price of silver increased by Rs62 per tola, reaching Rs6,965.
The price of 10-gram silver also increased by Rs53 to reach Rs5,971. International silver prices rose by $0.62 to $64.86 per ounce.
The latest increase is significant for consumers, investors and people planning to purchase gold for weddings or other occasions. Continued price gains could further increase the cost of jewellery.
Market participants are now watching international prices and currency movements for signs of where local gold rates could move next.
Also read: Gold Price in Pakistan Today
