Gold prices in Pakistan saw a slight increase on Friday, following a rise in the international market. The price of gold reached Rs216,500 per tola in the local market, marking a Rs200 increase for the day. According to the All Pakistan Gems and Jewellers Sarafa Association (APGJSA), the 10-gram gold was sold at Rs185,614 after a Rs172 increase.
This is the second consecutive day of price increase, as on Thursday, gold prices had also gone up by Rs200 per tola. In the international market, the price of gold was at $2,056 per ounce, with a $4 increase and a $20 premium.
On the other hand, silver rates remained steady at Rs2,650 per tola.
Insight: The increase in gold prices in Pakistan is in line with the global trend, as uncertainty around the economy and geopolitical tensions often lead to a rise in demand for gold as a safe-haven asset. The stability in silver rates could be reflective of its status as a more industrial metal, with demand primarily driven by industries rather than by investment purposes. Additionally, fluctuations in currency exchange rates and inflation can also impact the prices of precious metals. Investors and consumers should stay updated on these factors to make informed decisions related to buying and selling gold and silver.
