In a significant turn of events, gold prices experienced a notable surge in Pakistan on Tuesday, aligning with the upward trend in the international market.

The precious metal, often referred to as “yellow gold,” witnessed a price hike of Rs2,700 per tola, reaching a new valuation of Rs223,900.

According to the latest data released by the All Pakistan Gems and Jewellers Sarafa Association (APGJSA), the 10-gramme gold bar was traded at Rs191,958, reflecting an increase of Rs2,315.

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This comes on the heels of a substantial jump of Rs3,500 per tola recorded on Saturday.

Internationally, the gold rate demonstrated a robust performance, closing at $2,135 per ounce with a $20 premium on Tuesday. This marked a noteworthy uptick of $29 in the global market, as reported by APGJSA.

In contrast, silver rates remained stable at Rs2,600 per tola during the same period.

Shifting focus to the currency market, the Pakistani rupee experienced a slight dip against the US dollar, depreciating by 0.02 per cent in the inter-bank market on Tuesday.

The closing exchange rate, according to the State Bank of Pakistan (SBP), stood at 279.31, indicating a marginal loss of Re0.05 against the greenback.

This follows a similar trend observed on Monday, when the rupee settled at 279.26 against the US dollar.