On Saturday, the gold market in Pakistan witnessed an increase of Rs3500 per tola, resulting in higher gold prices across the board. The cost of 24-karat gold reached Rs.2 20, 300 per tola.
Gold dealers also observed a corresponding increase in the rate of 10 grams of 24-karat gold, with an increase of Rs3001, which is now trading at Rs188,872, the All Pakistan Sarafa Gems and Jewellers Association (APSGJA) said.
These fluctuations in gold rates are closely tied to changes in the value of the US dollar, demonstrating the intricate relationship between currency values and gold prices. This connection highlights the impact of global economic factors on local gold markets, it said.