Gold price increases by Rs400 per tola in Pakistan

Karachi (Web Desk): Gold prices have increased once again in Pakistan, with a fresh hike recorded in the local bullion market.

According to the All Pakistan Sarafa Gems and Jewellers Association, the price of gold per tola rose by Rs400, bringing the new price to Rs425,436.

Similarly, the price of 10 grams of gold increased by Rs343, reaching Rs364,742.

In the international market, gold prices also witnessed an increase of $4 per ounce, taking the global rate to $4,030 per ounce.

Meanwhile, silver prices declined in the global market, falling by $1.34 to $56.76 per ounce. In Pakistan, the price of silver dropped by Rs134 per tola, bringing it down to Rs6,155, while the price of 10 grams of silver decreased by Rs115 to Rs5,276.

According to market analysts, fluctuations in international gold prices are directly affecting local rates, resulting in continuous changes in gold prices across Pakistan.

Experts say the recent rise in gold prices is mainly driven by higher international rates, fluctuations in the US dollar value, ongoing global economic and geopolitical uncertainties, and increased investor interest in gold as a safe-haven asset.