KARACHI: The gold prices increased by Rs11,000 per tola to Rs488,962.
Gold gained nearly 2% globally, supported by a weaker US dollar. Softer oil prices also eased concerns over inflation and the possibility of higher-for-longer interest rates, while market sentiment improved on hopes of a potential US-Iran peace deal.
According to the All Pakistan Sarafa Gems and Jewellers Association, the price of 24-karat gold per tola increased by Rs11,100 to Rs488,962, compared to Rs477,862 in the previous session.
Similarly, the price of 10 grams of 24-karat gold rose by Rs9,517 to Rs419,206, up from Rs409,689.
In the international market, gold prices climbed by $111 to $4,666 per ounce, compared to $4,555 a day earlier.
Silver prices also recorded an increase, with the per tola rate rising by Rs223 to Rs8,072 from Rs7,849.
