Pakistan Gold Prices Soar on Global Bullion Market Boost
The value of gold in Pakistan increased on Saturday, with traders citing a positive close in the world bullion market. The All Pakistan Sarafa Gems and Jewellers Association reported that gold prices rose by Rs2200 to reach Rs456,536 per tola. This marked a significant increase from the previous day's price of Rs391,406 for 10 grams of gold.
The global bullion market also saw an uptick in value, with prices rising by $22 to settle at $4341 per ounce. However, silver experienced a decline, dropping to $63.47 per ounce from $64.60. As a result, domestic silver prices followed suit, decreasing by Rs113 and Rs97 to Rs6826 per tola and Rs5852 per 10 grams, respectively.
The association emphasized that the gold and silver values are based on interbank exchange rates, but noted that open market prices may differ.