Gold price jumps Rs1,523 per tola in Pakistan

Gold prices moved higher in Pakistan on Thursday, tracking gains in the international bullion market, while silver prices registered a decline.

According to a report by the 24NewsHD TV channel, the price of gold increased by Rs1,523 per tola in the domestic market, taking the rate to Rs469,285 per tola.

The TV channel report stated that the price of 10 grams of gold also recorded a significant rise of Rs1,305, reaching Rs402,335.

The upward trend followed gains in the global market, where the price of gold climbed by $14.50 per ounce to settle at $4,468 per ounce. 

Gold market analysts attributed the increase in local rates to the rise in international bullion prices.

In contrast, silver prices moved in the opposite direction. The price of silver fell by Rs97 per tola in the local market, bringing the rate down to Rs7,797 per tola.

Reporter: Ashraf Khan