Gold Rate in Pakistan Increases to Rs354,500
The increase in gold prices is a significant development for investors and traders in Pakistan, and the current rate of Rs354,500 per tola is likely to influence market activity in the coming days. The stability of silver prices, on the other hand, provides a sense of consistency in the market.
Gold prices in Pakistan's domestic market rose on Tuesday, following a $15 increase in the international bullion market, with the price of 24-karat gold increasing by Rs1,500 per tola to Rs354,500.
The global price of gold reached $3,325 per ounce, leading to a corresponding rise in local rates. The price of 10-gram gold also rose by Rs1,286 to Rs303,926. This increase in gold prices comes after a decline on Monday, where the price of 10-gram gold dropped to Rs302,640 and the price of one tola of gold reached Rs353,000, a loss of Rs2,500.
In contrast to gold, silver prices remained unchanged, with the rate of silver standing at Rs3,841 per tola and Rs3,293 per 10 grams. The international rate of gold had decreased to $3,310 per ounce on Monday, a loss of $25, which led to a decline in silver prices, with one tola of silver selling at Rs3,841, down from Rs3,871.
The fluctuations in gold prices in Pakistan are closely tied to the international market, and the recent increase is expected to impact the local market. The National Bank of Pakistan's Exchange Rates Bulletin provides regular updates on foreign exchange rates, helping to inform investors and traders about market trends.