Karachi (Web Desk): Gold prices in Pakistan recorded a significant increase, with the price of one tola rising by Rs4,200, according to the All Pakistan Sarafa Association.
Following the latest increase, the price of one tola of gold reached Rs463,936. The price of 10 grams of gold also climbed by Rs3,601, taking it to Rs397,750.
The latest surge has pushed gold rates higher in local bullion markets, making jewellery purchases more expensive for consumers. Market participants also expect gold prices to remain subject to fluctuations in the coming days.
Meanwhile, gold prices in the international market continued their upward trend for the third consecutive session.
According to Reuters, spot gold gained one percent to reach $4,432.74 per ounce, marking its highest level since June 5. US gold futures also advanced 1.7 percent to $4,492.60 per ounce.
Other precious metals also posted gains. Silver rose 0.9 percent to $66.30 per ounce, platinum increased 0.7 percent to $1,765.26, while palladium climbed 0.8 percent to $1,394 per ounce.