Gold prices in Pakistan saw a continued upward trend on Friday, reflecting the increase in international rates. The price of gold reached Rs217,700 per tola after gaining Rs1,400 throughout the day. Similarly, the 10-gram gold price rose to Rs186,643, marking an increase of Rs1,201, as reported by the All Pakistan Gems and Jewellers Sarafa Association (APGJSA).
This is a significant increase from the previous day, when gold prices in Pakistan had gone up by Rs800 per tola. The international market also saw a rise in gold prices, with a $20 premium bringing the rate to $2,074 per ounce. This marked an increase of $14 in the international market, according to APGJSA.
In contrast, silver rates remained stable at Rs2,600 per tola in Pakistan.
Additional insight:
The increase in gold prices in Pakistan can be attributed to a variety of factors. Economic uncertainty, geopolitical tensions, and inflation can all contribute to an increase in demand for gold as a safe-haven asset. Additionally, fluctuations in the value of the US dollar and other major currencies can impact the price of gold in the international market, which in turn influences prices in Pakistan. Investors and traders closely monitor these factors to make informed decisions about their gold investments.
