Gold rises for second consecutive day, reaches Rs433,836 per tola

On Tuesday, the price per tola rose by Rs4,700 to Rs429,236

KARACHI:

Gold and silver prices increased in both international and domestic markets on Wednesday, driven by gains in the global bullion market. In the international bullion market, the price of gold rose by $46 to $4,114 per ounce.

According to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), in the local market, the price of 24-carat gold increased by Rs4,600 per tola to Rs433,836. The price of 10 grams of gold also climbed by Rs3,944 to Rs371,944.

Meanwhile, silver prices recorded modest gains in the local market. The price of silver per tola rose by Rs7 to Rs6,403, while the price of 10 grams of silver increased by Rs6 to Rs5,489.

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On Tuesday, gold prices rose sharply, mirroring gains in the international market, where the precious metal climbed more than 1%.

In the local market, the price of gold per tola reached Rs429,236, registering a significant hike of Rs4,700, according to the APGJSA.

Similarly, the 10-gram gold were sold at Rs368,000 after increasing by Rs4,029.

On Monday, gold had closed at Rs424,536 per tola following a modest gain of Rs300. The latest jump reflects strong investor sentiment driven by global developments.