Islamabad: The upward momentum of the price of gold in Pakistan continues as the per tola rate increased by Rs800 on Saturday.
According to the All Pakistan Sarafa Gems and Jewellers Association, the price of gold rose by Rs800 per tola, settling at an all-time high of Rs172,700. Similarly, the price of gold on a ten-gram basis also rose by Rs686 to settle at Rs148,062.
In the last ten sessions, the price went up by Rs9,550 per tola.
Similarly, after an increase of Rs20 per tola silver price settled at Rs1,980, hovering near its all-time high of Rs1,990. The price of 10-gram silver also rose by Rs17.15 to settle at Rs1,697.53.
It is important to mention that the prices of gold in Pakistan usually go up due to the Pakistani rupee’s depreciation against the US dollar. Similarly, the fall in the international market of the precious metal also contributes to the rise in prices in the local market.
But the main driving force behind the meteoric rise of gold prices is the wedding season in Pakistan, which contributes to its demand jacking up the prices.
