After declining in the previous two sessions, gold prices in Pakistan increased on Saturday in line with their increase in international rates. In the local market, the price of gold per tola was up by Rs2,000, clocking in at Rs284,300.
Similarly, 10-gram gold was sold at Rs243,741 after it recorded an increase of Rs1,714, according to rates shared by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA).
On Friday, gold price had decreased by Rs800 to settle at Rs282,300.
Meanwhile, the international rate of gold increased on Saturday. As per APGJSA, the rate was $2,748 per ounce (with a premium of $20) and was up by $22 during the day.
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Silver prices remained stable at Rs3,350 per tola.
On Wednesday, gold prices hit a record-high level of Rs285,400 per tola.
Gold prices have surged to record highs in recent weeks, as conflicts in the Middle East and uncertainty surrounding the upcoming US election spurred demand for safe-haven assets.
Bullion is considered a hedge against economic and geopolitical uncertainties.
Source: Brecorder
