KARACHI: International rates of gold pushed prices in the local market by more than Rs2,000 per tola on Thursday.
The price of gold (24 carats) gained Rs2,600 per tola and Rs2,230 per 10 grams to settle at Rs224,700 and Rs193,644, respectively, according to data issued by All-Pakistan Sarafa Gems and Jewellers Association (APSGJA).
Meanwhile, the price of the yellow metal increased by $3 to settle at $1,975 in the international market today as the commodity reached a one-week high supported by a weaker dollar.
The gold rate has been volatile in Pakistan recently amid continued political and economic uncertainty, and high inflation. People prefer to buy gold in such times as a safe investment and a hedge.
Data shared by the association showed the price of silver remained unchanged at Rs2,750 per tola and Rs2,357.68 per 10 grams.
Meanwhile, the local currency gained Rs0.59 or 0.21% against the US dollar in the interbank market today, according to the data shared by the State Bank of Pakistan (SBP).
The rupee closed at Rs286.45 against the dollar.
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