Gold prices in Pakistan soar to record Rs429,236 per tola

The price of gold rose by Rs 4,700 per tola, taking the rate to Rs 429,236.

KARACHI: Gold prices in Pakistan climbed for a second consecutive day on Tuesday, with the price of one tola reaching a new record high after a sharp increase in the local bullion market.

According to the All Pakistan Gems and Jewellers Association, the price of gold rose by Rs 4,700 per tola, taking the rate to Rs 429,236.

The association said the price of 10 grams of gold increased by Rs 4,029 to Rs 368,000.

The rise followed gains in the international bullion market, where gold prices increased by $47 to $4,068 per ounce, pushing domestic prices higher.

On the previous trading day, the price of one tola of gold had increased by Rs300, closing at Rs. 424,536 before Tuesday’s sharp rise.

Silver prices also moved higher in the domestic market. The price of one tola of silver rose by Rs219 to Rs. 6,396, while the price of 10 grams increased by Rs188 to Rs. 5,483, according to market data.