Gold prices in Pakistan maintained their upward trajectory on Saturday in line with their increase in international rates. In the local market, the price of gold per tola increased by Rs900, clocking in at Rs281,800, which is the latest record high in Pakistan.
Similarly, 10-gram gold was sold at Rs241,598 after it recorded an increase of Rs772, according to rates shared by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA).
On Friday, gold price had increased by Rs3,000 to settle at a then-record high level of Rs280,900.
Meanwhile, the international rate of gold increased on Saturday. As per APGJSA, the rate was at $2,721 per ounce (with a premium of $20), and was up by $9 during the day.
Silver prices gained Rs50 to settle at Rs3,150 per tola.
Experts have attributed the ongoing rally in gold prices to escalating tensions in the Middle East, uncertainties regarding the US elections and relaxed monetary policy expectations.
Source: Brecorder
