Gold price sharply increases in Pakistan

Karachi: Gold price on Thursday increased by Rs700 per tola and Rs601 per 10 grams in the domestic market.

According to the All Sindh Sarrafa and Jewelers Association, the gold price in Pakistan recorded an increase of Rs700 per tola as it settled at Rs125,900 per tola and Rs107,939 per 10 grams today.

In the international market, the gold prices rose by $20 per ounce to close at $1,837 as a retreat in US Treasury yields and the dollar sparked investor interest, with concerns surrounding inflation and geopolitics lending support.

It is pertinent to mention that the gold rates in Pakistan are around Rs1,500 below the cost compared to the gold rate in the Dubai market.

Meanwhile, silver prices in the domestic market remained unchanged at Rs1,450 per tola and Rs1,243.14 per 10 grams today.