Gold price in Pakistan registers minor gains

Price of per tola gold increases by Rs 400 to settle at Rs 215,500
An undated image of gold bars. — Canva

An undated image of gold bars. — Canva

The gold prices in Pakistan rose slightly on Wednesday in the wake of trivial upscaling observed in the rates of yellow metal in the international market.

According to the data released by the All-Pakistan Sarafa Gems and Jewellers Association (APSGJA), the price of gold (24 carats) increased by Rs400 per tola and Rs343 per 10 grams to settle at Rs215,500 and Rs184,756, respectively.

The factor at play behind this fluctuation in the gold rates in Pakistani market is a nominal spike in yellow metal's cost in the international market, taking down the price from $2,048 to $2,053 with an increase of $5.

Meanwhile, the price of silver remained unchanged at a rate of Rs2,600 per tola and Rs2,229.08 per 10 grams, as per the data revealed by the association.

The frequent changing in gold prices in Pakistan can be attributed to political and economic instability, as well as to rising inflation and devaluation of the rupee. 

Given that, individuals are more inclined during these uncertain times to buy precious metals as a reliable investment and a safeguard against economic uncertainties.