Gold price gains Rs600 per tola in Pakistan
Cumulatively, gold has gained Rs1,450 per tola in the local market during the week that ended on March 5
March 05, 2022
- Price rises by Rs600 per tola to settle at Rs129,400.
- Silver prices in the domestic market remain unchanged.
- Gold has gained Rs1,450 per tola in local market during the week.
KARACHI: In line with the international market, the gold price in Pakistan recorded a gain of Rs600 per tola on Saturday to settle at Rs129,400.
The price of the precious commodity rose by Rs515 per 10 grams to settle at Rs110,940 per 10 grams, respectively.
Cumulatively, the yellow metal has gained Rs1,450 per tola in the local market during the week that ended on March 5.
The international gold price jumped by $27 per ounce to close at $1,974 as the Russia-Ukraine crisis continues to support the prospect for higher precious metal prices.
Earlier, speaking to Geo.tv, a gold dealer said global politics heavily affect gold prices. Prior to Russia and Ukraine conflict, the trade war between the US and China had affected the commodity rates in the international market, and the local market gets directly affected by it, he added.
He said that investors are closely watching developments regarding the Russia-Ukraine crisis.
Gold rates in Pakistan are around Rs4,000 below cost compared to the rate in the Dubai market.
Meanwhile, silver prices in the domestic market remained unchanged at Rs1,480 per tola and Rs1,268.86 per 10 grams today.
