ISLAMABAD: Gold rates in Pakistan continued the upward trajectory with further increases in the domestic market.
According to All Pakistan Sarafa Gems and Jewelers Association (APSGJA), the price of 24 karats of gold increased by Rs300 per tola on Tuesday while that 10 grams witnessed an increase of Rs 257 to reach Rs217,400 and Rs186,385, respectively.
The continued increase in precious metals is due to the country’s ongoing economic situation and developments in the international market.
Meanwhile, the Pakistani rupee had depreciated to an all-time low of Rs288.43 against the American dollar in the interbank market last week, where it made a slight recovery in the following days taking it to around Rs282.
Gold Rates in The International Market
Meanwhile, unlike the local market, the price of gold went down in the international market and recorded a loss of $3 to settle at $2,005 per ounce in the international market.
Investors prefer to buy gold during the ongoing economic crises as it is considered a reliable asset compared to other entities.
Meanwhile, the price of silver in the local market remained unchanged at Rs2,530 per tola and Rs2,170 per 10 grams.
