Gold rises Rs11,700/tola in Pakistan

Gold prices moved higher in Pakistan on Saturday, tracking an upward trend in the global market.

In the domestic market, the price of gold per tola climbed to Rs519,462, showing an increase of Rs11,700 during the day. At the same time, the rate for 10 grams of gold rose by Rs10,030 and was sold at Rs445,354, figures released by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA) showed.

A day earlier, on Friday, gold prices had fallen sharply, with the per tola rate dropping by Rs21,400 to settle at Rs507,762.

On the international front, gold prices also strengthened, gaining $117 to reach $4,967 per ounce, including a $20 premium.

Silver prices followed the same trend, rising by Rs444 to stand at Rs8,269 per tola in the local market.