Gold price surges by Rs4,000 in two days, now at Rs272,500 per tola

Gold prices in Pakistan continued to climb on Saturday, after increasing in the international markets.

The price of gold in the local bullion market rose by Rs500 per tola, reaching a level never witnessed in the country’s history.

According to All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), the price of the precious metal was recorded at Rs272,500, breaking Friday’s record.

It is worth noting that the last highest price of gold was recorded yesterday, when yellow metal’s rate was quoted by gold dealers at Rs272,000 per tola. Gold prices earlier witnessed a massive rise of Rs3,500 per tola on the previous trading day.

Furthermore, the price for 10 grammes of gold also increased today, witnessing a surge of Rs429 and closing the day at Rs233,625.

Considering international market, gold prices jumped further, with the APGJSA reporting the rate at $2,622 per ounce. This rate includes a $20 premium.

Globally, the gold rate witnessed a hike of $10 during the day.

Once more, silver prices were seen unchanged at Rs2,950 for one tola.