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Gold prices extend gains in local market

25 Jan, 2022
The price of 24 karat per tola gold witnessed an increase of Rs300.
The price of 24 karat per tola gold witnessed an increase of Rs300.

The price of gold price extended gains in the domestic market and rose by Rs300 per tola on Tuesday in line with the surge in the international bullion market.

The price of 24 karat per tola gold witnessed an increase of Rs300 and was sold at Rs126,650 in the local market on Tuesday against its sale at Rs126,350 on Monday.

The price of 10 gram 24 karat gold also appreciated by Rs 257 to reach Rs108,582 from Rs108,325 the previous day.

According to Geo News, the prevailing uncertain economic conditions have sparked a flight from risky commodities towards safer commodities as gold is considered one of the safest investments. Its price is skyrocketing as investment is pouring in at a rapid pace.

The gold price in Pakistan usually depends on different factors such as the exchange rate between US dollars and Pakistan rupees and fluctuation in international gold market.

Silver prices, however, in the domestic market remained unchanged at Rs1,470 per tola and Rs1,260.28 per 10 gram on Tuesday.

Gold price in the international remained unchanged at $1,838.