Gold price in Pakistan registers second consecutive uptick

Price of gold in international market increases $12 per ounce to reach $2,025
An undated image of gold bars. — Canva

An undated image of gold bars. — Canva

Gold price in Pakistan registered a slight increment on Friday, keeping up with the fluctuations in the international market of the yellow metal.

After experiencing an increase of Rs1,300 per tola and Rs 1,115 per 10 grams, the price of gold in Pakistan settled at Rs212,400 and Rs182,099, respectively, according to the data disclosed by the All-Pakistan Sarafa Gems and Jewellers Association (APSGJA).

The yellow metal's latest price hike marks another increment for the second consecutive day, coming two days after it underwent a substantial plunge on Wednesday.

Meanwhile, today's increase can also be attributed to the upsurge observed in gold rates in the international marker, soaring $12 per ounce to reach $2,025.

On the contrary, the cost of silver remained unchanged, staying at Rs2,580. Whereas, the rate of 10 grams silver remains stable at Rs2,212, as per the data revealed by the association.

The rise and fall of gold prices in Pakistan are influenced by political and economic uncertainty, along with increasing inflation and the devaluation of the currency.