Gold price goes up in Pakistan by Rs700 per tola

Karachi: The Gold prices on Friday continued to rise in the local markets amid deepening political tensions and economic crisis

All-Pakistan Sarafa Gems and Jewellers Association (APSGJA) shared the data which showed that the price of gold (24 carats) went up by Rs700 per tola and Rs600 per 10 grams to settle at Rs204,200 and Rs175,068.

Gold slipped to a narrow range staying above the key threshold of Rs200,000 per tola.

In the sixth sessions, the yellow metal cumulatively gained Rs6,700 per tola as the other market slides investors generally found refuge in the gold to maintain a low risk-profile.

The silver prices, meanwhile, remained stagnant at Rs2,150 per tola and Rs1,843.27 per 10 grams, respectively, in the local markets.

The International market also witnessed increase in the gold price as there was a big weekly gain since mid-November as a global banking crisis sent investors flocking to the safe haven metal. After an increase of $10, the price settled at $1,936 per ounce.