Gold price goes up by 3,300 per tola in Pakistan

Lahore: The gold prices increased by Rs3, 300 per tola and Rs2,829 per grams to settle at Rs198,000 and Rs169, 753, respectively.

The development took place after the investors rushed to cash in on the five-day correction amid economic uncertaint as the government still needed to implement the conditions imposed by the international money lender in the recently concluded talks.

According to All-Pakistan Sarafa Gems and Jewellers Association (APSGJA), the price of gold (24 carats) increased by Rs3,300 per tola and Rs2,829 per 10 grams to settle at Rs198,000 and Rs169,753, respectively.

The yellow metal might gain more value locally as the government met its gold requirements through imports, with the rupee trading around 269-275 against the dollar.

On the other hand, silver prices gained Rs30 per tola and Rs25.72 per 10 grams to settle at Rs2,160 and Rs1,851, respectively, in the local markets.