KARACHI: Gold prices in Pakistan recorded a sharp increase during the current week from January 12 till January 17, rising by Rs 8,600 per tola, according to the All Pakistan Sarafa Jewellers Association.
The price of one tola of gold closed at Rs 481,862 this week, compared to Rs 473,262 last week. Similarly, the price of 10 grams of gold increased to Rs 413,118, up from Rs 405,745 in the previous week.
Sarafa Association officials attributed the weekly increase in local gold prices to a surge in prices at the global level. During the current week, gold was traded at $4,595 per ounce in the international market, compared to $4,509 per ounce last week.
Meanwhile, silver prices also witnessed a notable rise. The price of silver closed at Rs 9,482 per tola, up from Rs 8,465 last week.
Gold prices further increase-check the latest price here
Gold price further increased by Rs 4300 in Per Tola as the new prices of gold per tola reached Rs 485,486, while ten grams also increased by Rs 771 to Rs 413,118.
On Wednesday in the international bullion market, the price of gold per ounce increased by another $9 to reach a new high of $4,486. Similarly, the price of silver per tola also increased by Rs 180 to a new high of Rs 9,075, while the price of silver per ten grams increased by Rs 154 to Rs 7,780.
The deterioration of the geopolitical situation has caused the prices of gold and silver to reach new historical highs at the global and local levels. The US’s tensions with Venezuela and Iran, the echo of the US Federal Reserve’s further interest rate cut this year, and geopolitical tensions have caused the prices of gold and silver to reach new historical highs at the global and local levels.
