Gold price increases Rs700 per tola in Pakistan

Karachi: Following to the international market, gold prices in Pakistan gained by Rs700 per tola on Tuesday to settle at Rs130,700.

The price of the precious metal rose by Rs600 per 10 grams to settle at Rs112,054 per 10 grams, respectively.

In the international market, gold powered past the key $2,000 level as the Russia-Ukraine crisis fuelled worries of a supply squeeze of the metal.

Gold rates in Pakistan are around Rs7,500 below the cost compared to the rate in the Dubai market.

Meanwhile, silver prices in the domestic market remained unchanged at Rs1,480 per tola and Rs1,268.86 per 10 grams today.

A day ealrie, gold price sharply increased in Pakistan amid depreciation in the Pakistani rupee and ongoing geopolitical crisis.

According to Sindh Sarafa Bazaar Association, the price of the precious metal rose by Rs600 per tola and Rs515 per 10 grams to settle at Rs130,000 and Rs111,454, respectively.

In the international market, gold price per ounce increased by $17 and reached $1991.

Meanwhile, silver prices in the domestic market remained unchanged at Rs1,480 per tola and Rs1,268.86 per 10 grams today.