Gold prices witness slight increase in Pakistan

Karachi: The local markets in the country witnessed increase in the gold prices despite decline in the prices of the yellow metal in the international markets on Friday.

The gold prices went down by $12 per ounce and brought the new rate to $2,492 per ounce in the international markets.

Contrary to the global trend, the price of 24-carat gold in Pakistan went up by Rs200 per tola, and pushed the new rate to Rs262,000.

Similarly, the price for 10 grams of gold increased by Rs172, and settled at Rs224,623.

Despite the fluctuation in gold prices, silver rates remained stable. The price of silver held steady at Rs2,950 per tola and Rs2,529.14 per 10 grams.

It is important to note that on Thursday, the international gold market had recorded an $8 per ounce decline, while in Pakistan, gold prices surged by Rs800 per tola and Rs686 per 10 grams, reflecting a disconnect between global and local markets.