Slight Increase in Gold Prices in Global and Local Market

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In Karachi, along with an increase in the price of gold in the international market, there has also been a slight increase in the local market price per tola of gold. In the international bullion market, the price of gold per ounce reached $2342 after an increase of $7.
In local currency markets on Friday, the price per tola of 24-carat gold increased by Rs. 500 to Rs. 241,700 and the price per ten grams of gold also increased by Rs. 429 to reach Rs. 207,219. Representatives of the bullion market say that due to a decrease in purchasing power in local currency markets and a visible decrease in gold trading activities, local gold prices have been kept Rs. 3000 lower than the international prices, instead of proportional to the increase in international prices.
In contrast to the increase in the price of gold, the price of silver remained stable without any changes at Rs. 2900 per tola and Rs. 2486.28 per ten grams.

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