Summary Gold prices rise sharply in Pakistan after three-day drop, increasing Rs11,100 per tola to Rs488,962, while international gold jumps $111 per ounce amid global market fluctuation.
KARACHI (Dunya News) - After a three-day decline, gold prices have witnessed a sharp increase in both local and international markets.
According to the All Pakistan Sarafa Association, the price of 24-karat gold per tola increased by Rs11,100, reaching Rs488,962. Similarly, the price of 10 grams of gold rose by Rs9,517 to Rs419,206.
The price of silver per tola also increased by Rs223, reaching Rs8,072.
In the international market, gold prices surged by $111 per ounce, taking the rate to $4,666.
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A day earlier, prices declined on Tuesday amid downward trend in international market.
The price of gold per tola fell by Rs2,100, bringing the new rate to Rs477,862. Over the last two days, the total decrease in gold prices has been Rs5,900.
Similarly, the price of 10 grams of gold dropped by Rs1,801, with the new rate setling at Rs409,689.
On the global market, gold fell by $21 per ounce, bringing the price to $4,555.
Meanwhile, silver in Pakistan also declined by Rs65 per tola, now priced at Rs7,849.
Experts attribute the drop in local gold prices to fluctuations in the global market and changes in the value of the US dollar.
