Gold price gains Rs6,200 per tola in Pakistan
- 10-gram gold was sold at Rs462,587 after it increased by Rs5,316
Gold prices in Pakistan increased on Tuesday in line with their gain in the international market. In the local market, gold price per tola reached Rs539,562 after a jump of Rs6,200 during the day.
Similarly, 10-gram gold was sold at Rs462,587 after it increased by Rs5,316, according to rates shared by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA).
On Monday, gold price per tola reached Rs533,362 after a loss of Rs6,500 during the day.
The international rate of gold jumped by $62 to reach $5,168 per ounce (with a premium of $20).
Meanwhile, the price of silver also increased by Rs460 to reach Rs9,354 per tola.
Furthermore, international gold rose on Tuesday, supported by a weaker US dollar and easing energy costs after US President Donald Trump suggested that the war in the Middle East could end soon.
Respite from a potential war-driven surge in inflation would likely reduce the chances of central banks raising interest rates, a positive for non-yielding gold.
Spot gold rose 0.5% to $5,161.54 per ounce, as of 0429 GMT. US gold futures for April delivery rose 1.3% to $5,171.10.
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