Islamabad: The upward momentum of last week continued as the price of gold rose by Rs500 per tola on Saturday.
According to the All Sindh Sarafa Jewellers Association,
the price of gold in Pakistan increased by Rs500 per tola and Rs430 per 10 grams to settle at Rs155,900 and Rs133,660, respectively.
Cumulatively, the price per tola increased by Rs4,700 during last week.
It is also important to note that Pakistan fulfils its gold demand by importing the precious commodity. Therefore, the rise and fall in the price depend upon many factors, including prices in the international market, the PKR to the USD exchange rate, and the demand and supply in domestic markets.
Similarly, the price of gold in the international market also increased by $11 to settle at 1,771.
Meanwhile, per tola and 10-gram silver prices remained constant at Rs1680 and Rs 1,440.32, respectively.
