Gold price in Pakistan increases by Rs2700 per tola

KARACHI: The gold price in Pakistan increased further on Tuesday, with a spike of Rs2700 per tola (11.7 grams) in the domestic market, ARY News reported.

According to the All Pakistan Jewellers Manufacturers Association (APJMA), the new price of gold is Rs 223,900 per tola. Similarly, per 10 grams price of gold in the domestic market is increased by Rs2315 to Rs191, 958.

The price of gold in the international market rose by 29 US dollars to 2,067 US dollars per ounce.

Meanwhile, the price of silver remained stable at Rs2,600 a tola.

These changes in the price have a strong correlation with fluctuation in the US dollar’s value, demonstrating the complex connection between gold prices and exchange rates. This emphasizes how local gold markets are impacted by variables related to the global economy.

Read More: Gold price rise in Pakistan on March 4

Earlier on Monday, the yellow metal price was increased by Rs900 in the local market.

According to the All Pakistan Jewellers Manufacturers Association, per tola price of the precious yellow metal decreased by Rs900 to settle at Rs221,200. The price of 24-karat silver also saw a record rise of Rs30 to trade at Rs2,600.

Similarly, the price of 10 grams jacked up by Rs771 to Rs189,643. The price in the international market increased by $3 to $2,106.