According to data released by the All Pakistan Gems and Jewellers Sarafa Association, the price of 24-karat gold rose to Rs453,036 per tola.
The price of 10 grams of gold also increased by Rs4,029, reaching Rs388,404. The increase in local gold prices came after a rise in international gold prices. Gold prices in the international market increased by $47 to $4,305 per ounce.
Silver prices also increased, with the price of silver rising by Rs126 per tola to Rs6,963. The latest increase comes after gold prices had declined by Rs12,000 per tola over the previous five trading days. During the same period, the price of 10 grams of gold had fallen by Rs10,287.
On Thursday, September 24, the price of gold fell by Rs5,600 per tola to Rs448,336, while the price of 10 grams declined by Rs4,800 to Rs384,175.
On September 23, gold prices fell by Rs1,800 per tola, bringing the price to Rs453,936, while the price of 10 grams declined by Rs1,544 to Rs389,176.
On September 22, the price of gold fell by Rs1,800 per tola and Rs1,543 per 10 grams, reaching Rs455,736 and Rs390,720 respectively.
On September 21, gold declined by Rs2,700 per tola to Rs457,536, while the price of 10 grams fell by Rs2,315 to Rs392,263.
On September 19, gold recorded a marginal decline of Rs100 per tola, bringing its price to Rs460,236. The price of 10 grams fell by Rs85 to Rs394,578.
Gold is traditionally considered a safe-haven asset, with prices often affected by inflation, political developments and economic uncertainty.
Pakistan recently changed the mechanism for determining local gold prices, under which the domestic price is set at $20 per ounce above the international market rate.
