Islamabad: After dropping in the previous three consecutive sessions, the price of gold in Pakistan went up on Monday by Rs600 per tola.
According to the All Sindh Sarafa Jewellers Association, the price of gold on Monday increased by Rs600 per tola and Rs514 per 10 grams to settle at Rs151,800 and Rs130,144, respectively.
It is 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.
The precious commodity’s rates in Pakistan are around Rs2,000 below the cost compared to the rate in the Dubai market.
Meanwhile, silver prices in the domestic market remained unchanged at Rs1,610 per tola and Rs1,380.31 per 10 grams.
