Gold Rises by Rs2,800 to Rs440,636 Per Tola in Pakistan as Silver Hits a Record High

Karachi’s bullion market handed buyers another jolt on Friday. Rates issued by the All Pakistan Sarafa Gems and Jewellers Association put 24-karat gold up by Rs2,800 per tola, settling at Rs440,636.

Ten grams, and the world market behind it

The rise was not limited to the tola. Ten grams of gold went up by Rs2,401 to Rs377,774. The push came from outside: in the international market gold gained $28 an ounce to close at $4,181, and local rates tend to follow that move along with the rupee’s value. On Thursday the per-tola rate had held unchanged at Rs437,836, so the entire shift arrived in a single day.

Silver makes its own record

Silver, this time, was not to be left behind. It rose by Rs108 per tola to Rs6,256, the highest price ever recorded for it in the local market. With wedding season buying under way, jewellers advise customers to confirm the day’s association rate before paying, because sarafa prices can move again within the same day.