- Gold price increased by Rs 1800 per tola.
- International gold prices declined by $23.
- Silver prices remained unchanged in the local market.
KARACHI: Gold prices in Pakistan rose for the second consecutive session after a sustained fall following the International Monetary Fund’s (IMF) $3 billion deal.
According to the data released by the All-Pakistan Sarafa Gems and Jewelers Association (APSGJA), gold (24 carat) advanced by Rs 1,800 per tola and Rs 1,543 per 10 grams to Rs 207,800 and Rs 178,155, respectively. respectively.
Meanwhile, the yellow metal fell by $23 to $1,905 an ounce in the international market today.
Gold rates have been volatile recently amid ongoing political and economic uncertainty and high inflation in Pakistan. People like to buy this precious item in such times as a safe investment and hedge.
Data shared by the association showed that silver prices managed to remain unchanged at Rs 2,380 per tola and Rs 2126.20 per 10 grams, respectively.
A day earlier, the prices of the yellow metal had increased by Rs 1,000 per tola.
Meanwhile, the rupee managed to gain marginally against the dollar and was up 0.13% on Thursday.
According to the State Bank of Pakistan (SBP), the local currency settled at Rs 277.04 against the greenback at the interbank market.