Gold price increases by Rs8,500, reaches to Rs470,862 per tola in Pakistan

Karachi (Web Desk): Gold prices in the domestic market witnessed a steep rise on Tuesday as the cost of 24-karat gold per tola increased by Rs8,500, taking the new rate to Rs470,862 compared to Rs462,362 a day earlier.

According to the All Pakistan Sarafa Gems and Jewellers Association (APSGJA), the price of 10 grams of 24-karat gold also moved up by Rs7,288 to Rs403,688 from the previous Rs396,400.

Along the same lines, the rate of 10 grams of 22-karat gold registered an increase of Rs6,681 and settled at Rs370,060, up from Rs363,379.

In the international bullion market, gold prices climbed by $85, reaching $4,485 per ounce against $4,400 in the prior session.

Meanwhile, silver prices showed no change in the local market, with per tola silver holding steady at Rs7,205 and the 10-gram rate unchanged at Rs6,177. Global silver prices also remained flat at $69.30 per ounce.