Gold prices in Pakistan saw an increase on Friday, following the trend of the international market. The local market saw gold priced at Rs215,000 per tola, marking a gain of Rs1,300 during the day. The 10-gram gold was also affected, being sold at Rs184,328 after an increase of Rs1,115, as reported by the All Pakistan Gems and Jewellers Sarafa Association (APGJSA).
This increase in gold prices comes after Thursday, where gold prices remained unchanged at Rs213,700 per tola in Pakistan. On the international front, the price of gold saw an increase of $13, bringing the international rate to $2,045 per ounce with a premium of $20, according to APGJSA.
As for silver, the rates remained stable at Rs2,600 per tola in the local market.
Additional insight: The increase in gold prices in Pakistan can be attributed to a variety of factors, including the global economic and political climate, as well as fluctuations in the value of the US dollar. Investors often turn to gold as a safe-haven asset during times of uncertainty, which can drive up demand and subsequently, prices. Furthermore, the ongoing COVID-19 pandemic continues to impact the global economy, leading to increased volatility in financial markets and influencing the price of precious metals like gold. These factors contribute to the day-to-day fluctuations in gold prices, both domestically and globally.
