Commodities
Gold Prices Soar by Rs1,000 Per Tola in Pakistan's Local Market
Gold prices surged in Pakistan's local market on Thursday, following an increase in international rates. According to the All Pakistan Sarafa Gems and Jewellers Association, 24-karat gold rates rose by Rs1,000 per tola to Rs427,436.
The price of 10-gram gold also increased by Rs857 to Rs366,457, while silver rates decreased by Rs76 to Rs6,215 per tola. Additionally, 10-gram silver rates dropped by Rs65 to Rs5,328.
The association attributed the rise in gold prices to a $10 increase in international market rates, which reached $4,050 per ounce. Typically, local gold prices are adjusted with a premium of $20 against international rates.