Gold price in Pakistan increases by 1,800 per tola

• Price of gold (24 carats) settles at Rs216,000.
• International price of yellow metal declines to $1,906 per ounce.
• Price of silver remain unchanged at Rs2,550 per tola.

Gold price in Pakistan witnessed an increase on Wednesday despite fall in the international rates.

According to a data released by All-Pakistan Sarafa Gems and Jewellers Association (APSGJA), the price of gold (24 carats) increased by Rs1,800 per tola and Rs1,543 per 10 grams to settle at Rs216,000 and Rs185,185, respectively.

Meanwhile, the price of the yellow metal also fell by $16 to settle at $1,906 per ounce in the international market today.

The gold rate has been volatile in Pakistan recently amid continued political and economic uncertainty, and high inflation. People prefer to buy this precious commodity in such times as a safe investment and a hedge.

In the last week ended on June 24, the price of the bullion continued a downward slide for seven consecutive sessions.

Data shared by the association showed the price of silver managed to remain unchanged at Rs2,550 per tola and Rs2186.21 per 10 grams, respectively.

It also mentioned that the price of the bullion is Rs3,000 per tola “undercost” in Pakistan as compared to the Dubai market.