Big jump in gold price in Pakistan

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gold price Pakistan

Islamabad: After dipping marginally on Thursday, the price of gold made a big jump on Friday in Pakistan to cross the psychological barrier of Rs155,000 per tola level.

According to the All Sindh Sarafa Jewellers Association, the price of gold in Pakistan increased by Rs2,250 per tola and Rs1,929 per 10 grams to settle at Rs155,400 and Rs133,230, respectively.

During the last five sessions, the price per tola increased by Rs4,200.

In the international market, the price of the precious metal soared by $52 per ounce, settling at $1,760.

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, like prices in the international market, the PKR to the USD exchange rate, and the demand and supply in domestic markets.

Meanwhile, silver prices in the domestic market rose by Rs20 per tola and Rs17.15 per 10 grams at Rs1,680 per tola and Rs1,440.32 per 10 grams.

Gold price reaches Rs 162,500

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