Islamabad: The gold price in Pakistan climbed to a new high after increasing by Rs700 per tola on Friday.
Data released by the All Sindh Sarafa Jewellers Association showed that the price of per tola gold increased by Rs700 to settle at Rs167,100. Similarly, the price on a ten-gram basis also rose by Rs600, settling at Rs143,261.
Meanwhile, the price of local silver increased by Rs30 to reach Rs1,890 per tola, while the precious white metal rose Rs25.72 to 1620.37 per 10 grams, reaching an all-time high.
Despite the continuous rise, the price of gold is still trading at a less value than the international market.
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.
