Gold rates up Rs3,500 per tola

KARACHI: Gold prices increased by Rs3,500 per tola in the local market on Wednesday, following an increase in the international gold rates.

According to the All Pakistan Sarafa Gems and Jewellers Association (APSGJA), the price of 24-karat gold increased to Rs503,462 per tola.Similarly, the price of 10-gram gold went up by Rs3,001 to Rs431,637. In the international market, gold prices gained $35 to reach $4,811 per ounce.

Bullion dealers said gold prices in Pakistan are typically adjusted with a premium of around $20 per ounce over international rates, reflecting exchange rate movements, import costs and domestic market conditions.Silver prices increased by Rs144 to Rs8,404 per tola, while the price of 10-gram silver also rose by Rs124 to Rs7,205.