The local gold market saw a significant increase in the price of gold on Saturday, under which the per tola price of 24 karat gold increased substantially by Rs 5,300, reaching a new high of Rs 444,162.
According to the data released by the All Pakistan Sarafa Gems and Jewellers Associations, this surge in the value of gold was consistent across different scales. The price of 10 grams of 24 karat gold increased by Rs 4,544, settling at Rs 380,797. Similarly, the price of 10 grams of 22 karat gold closed at Rs 349,076 after an increase of Rs 4,165.
The silver market also followed the same positive trend. The per tola price of 24 karat silver increased by Rs 267 to Rs 5,909, while the price of 10 grams of 24 karat silver increased by Rs 229, reaching Rs 5,066.
This increase in local prices was a reflection of developments in the global market. In the international market, the per ounce price of gold increased by $53 to $4,218. In parallel, the global price of silver increased by $2.67 to $56.37 per ounce.