KARACHI: In line with rising prices on the global market, the price of gold in Pakistan rose by Rs1,300 on Saturday.
Data released by the All Sindh Sarafa and Jewellers Association (ASSJA) showed that the price of gold, considered a safe haven, gained Rs1,300 per tola to settle at Rs159,600.
The price of yellow metal in the local market rose by Rs1,114 per 10 grams to Rs136,831.
The price of the yellow metal fell by Rs4,200 per tola the day before, reversing nearly half of its gain from the previous day.
When compared to Dubai, gold costs Rs6,000 less per tola.
Bullion prices rose $5 per ounce to settle at $1,767 on the international market, supported by a weaker dollar and bets that the Federal Reserve may slow the rate of rate increases as economic risks increase.
The cost of silver in the domestic market today remained constant at Rs1,630 for a tola and Rs1,397.46 for a gramme.
