With Rs. 400 per tola rise, the price of gold has gone up to Rs. 51,800 in the local market today.
It was noticed that the price of gold in international market went up by $9. It was priced at USD 1,339 per ounce. Price hike in international market had a trickle-down effect on local market.
According to the report of All Pakistan Supreme Council Jewelers Association, hike of Rs 400 was witnessed in the local market after which gold markets in various districts including Karachi, Hyderabad, Lahore, Multan, Faisalabad, Islamabad, Rawalpindi, Quetta and others increased the price of gold from Rs 51,400/tola to Rs 51,800/tola.
In this way, price of 10 grams of gold was recorded to be Rs 44,742 per tola. Meanwhile, price of silver has been maintained at Rs 750. Experts believe that the trade activities in gold gained pace after North Korea tested hydrogen bomb and relations between global powers worsened.