Gold prices in Pakistan recorded big increase on Tuesday, with the price of 24-karat gold per tola rising by Rs4,700 to Rs429,236 amid strong upward trend in the global market.
As per Tuesday’s market rates, the price of 10 grams of 24-karat gold also increased by Rs4,029, settling at Rs368,000. The latest rally comes a day after gold prices posted a comparatively modest increase of Rs300 per tola, when the precious metal closed at Rs424,536.
New Gold Prices
The increase in domestic gold prices was driven by gains in the international market, where gold advanced by $47 per ounce. As a result, the global price reached $4,068 per ounce, including a $20 premium.
The continued rise in international bullion prices has kept the domestic gold market on an upward trajectory, pushing the per-tola rate close to the Rs4.30 lakh milestone. Market observers say local gold prices are largely influenced by fluctuations in global bullion rates and movements in the rupee-dollar exchange rate.
