Gold hits new peak after Rs4,300 per tola increase in Pakistan

Gold prices continued their upward trend in Pakistan on Tuesday, moving higher in line with gains seen in the global market.

In the domestic market, the price of gold climbed by Rs4,300 during the day, pushing the rate per tola to Rs493,662, the highest level recorded so far.

The price of 10 grams of gold also rose, increasing by Rs3,686 to settle at Rs423,235, according to figures released by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA).

A day earlier, on Monday, gold had already posted a sharp increase, with the per tola rate rising by Rs7,500 to close at Rs489,362.

Internationally, gold prices strengthened as well, gaining $43 to reach $4,713 per ounce, including a premium of $20.

Silver prices also moved up in the local market. The price per tola of silver rose by Rs87 to stand at Rs9,869.