Gold rates continue to increase in Pakistan

KARACHI: The gold rates in Pakistan continued its uptrend on Wednesday, moving the cost of 24-karat gold to Rs251,900 per tola after seeing a price rise of Rs2200.

Dealers reported a similar rise in the price of 10 grams of 24-karat gold, which has gone up by Rs1887 to now trade at Rs215,964.

Furthermore, the price of 10 grams of 22-karat gold also showed a surge to trade at Rs197,967.

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These movements are closely linked to changes in the value of the US Dollar, indicating the close relationship between currency values and gold prices.

This underscores the impact of global economic factors on local gold markets.

The price of 24-karat silver is currently standing at Rs2,780. Internationally also, the gold price saw a price rise of $21, reaching $2,412 per ounce.