KARACHI – Gold prices saw a significant rise on Friday amid upward trend in international market due to ongoing tensions between Iran and the US.
Data shared by All Pakistan Gems and Jewellers Association showed the price of one tola of gold increased by R 2,500, pushing the new price to Rs5,26,462 per tola.
Similarly, the price of 10 grams of gold saw a rise of Rs2,144, bringing the new price to Rs4,51,356 per 10 grams.
In international market, the gold rate surged by $25 to reach $5,037 per ounce.
Experts suggest that fluctuations in global gold prices, combined with a decline in the value of the Pakistani rupee, are major factors driving the increase in local gold prices.
Additionally, growing interest from investors in gold is putting further pressure on prices in the local market.
