Silver trades at Rs1,430 per tola
Gold price inched up by Rs500 a tola in the local market while it slipped by $5 per ounce in the international market.
According to the All Sindh Sarraf and Jewellers Association, gold again touched Rs112,000 per tola (11.66 grams) after it inched up by Rs500 while the precious metal’s per 10-gram rate rose by Rs429 to settle at Rs96,022.
Over the past couple of days, gold rates had dipped by Rs900 per tola in local market.
The highest-ever gold rate was seen in the first week of August 2020 when it touched Rs132,000 per tola. However, the gold rate had dipped to the lowest level over the previous 10 months in April this year when it dwindled to 102,000 per tola.
Meanwhile, gold price declined by $5 an ounce and traded at $1,795 per ounce in the international market.
Data provided by the bullion traders showed that silver is being traded at Rs1,430 per tola while its rate was Rs1,226 per 10 grams. In the international market, silver lost $0.26 an ounce to trade at $24.12 per ounce.
Historically, gold traded at Rs88,150 per tola on January 1, 2020.
Gold is mostly imported in Pakistan, therefore, its price is dependent on the prevalent dollar rate too.
Most bullion traders in Pakistan sold gold in two categories: 22-carat or 24-carat weighed either in tolas or per gram.
While rates of precious metals are in most part uniform all over the country, but the local bullion traders decide the local rates.