Islamabad: Continuing its sinusoidal moment, the gold price in Pakistan on Friday witnessed an increase on the second consecutive day as well.
According to the All Sindh Sarafa and Jewellers Association (ASSJA), the price of gold on Friday increased by Rs850 per tola and Rs728 per 10 grams to settle at Rs151,700 and Rs130,058, respectively.
In the international market, the price of the precious metal decreased by $4 per ounce to settle at $1,721.
Gold rates in Pakistan are around Rs4,000 below the cost compared to the rate in the Dubai market.
Meanwhile, silver prices in the domestic market gained Rs60 per tola and Rs51.44 per 10 grams to close at Rs1,540 per tola and Rs1,320.30 per 10 grams.
The gold price in Pakistan is increasing higher as a result of rising inflation. It has been observed that during periods of inflation, people used to hold aggressive bets on gold.
On July 28, the price of a tola reached an all-time high of Rs162,500; it then swiftly fell to Rs134,200 before rising once more.
