Islamabad: Inching toward the all-time high of Rs162,500, the gold price in Pakistan increased by Rs1000 per tola on Tuesday.
According to the All Sindh Sarafa Jewellers Association, the price of gold in Pakistan increased by Rs1000 per tola and Rs851 per 10 grams to settle at Rs157,000 and Rs134,602, respectively.
During the last four sessions, the price of per tola gold increased by nearly Rs4000.
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.
Despite gold trading in a tight range, physical demand for the precious metal is high amid the ongoing wedding season.
Meanwhile, silver prices in the domestic market remained unchanged at Rs1,680 per tola and Rs1,440.32 per 10 grams.
