Gold prices continue to increase in Pakistan

KARACHI: Gold prices increased in Pakistan following an upward trend in the international market on Saturday.

According to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), the local price per tola jacked up by Rs 1,000 to reach Rs252,500.

The 10-gram gold also saw an increase of Rs 857, being sold at Rs216,478.

The rate of the yellow metal in the international market hiked by US$13 to US$2,373 per ounce.

The price of gold per tola increased by Rs1000 and settled at Rs251,500 in the domestic market the other day.

Factors Affecting Gold Prices

Global Economic Conditions: Gold prices are heavily influenced by global economic conditions. Economic uncertainty, inflation, and currency fluctuations often increase demand for gold as a safe haven asset..
Local Demand and Supply: Demand for gold in Pakistan for jewellery, investment and other uses may affect prices.
Exchange Rates: The value of the Pakistani rupee against major currencies such as the US dollar affects gold prices.