Gold Prices Soar in Pakistan's Local Market
The price of gold has surged in Pakistan's local market, according to the All Pakistan Sarafa Gems and Jewellers Association. On Friday, the price of 24-karat gold per tola rose by Rs5,100 to settle at Rs454,336. This increase is significant, with the price now at a new high. In addition to this, the price of 10 grams of 24-karat gold increased by Rs4,372 to reach Rs389,519.
The prices of other precious metals also saw an upward trend in the local market. The price of silver per tola increased by Rs280 to Rs6,939, while the price of 10 grams of silver rose by Rs240 to Rs5,949. In the international market, the price of gold climbed by $51 to $4,319 per ounce.
The association reported that this surge in prices is a result of various factors, including changes in global demand and supply. However, no specific details were provided regarding these factors.