Gold and silver became more expensive in Pakistan on Monday, the first trading day of the business week, ending a two-day pause in price increases. In the international bullion market, where gold and silver are traded in bulk, gold rose $32 an ounce to $4,098. The change carried into local goldsmith markets, reported from Karachi, where one tola of gold rose by Rs3,200 to Rs432,336.
Local gold and silver rates
In the same local markets, 10 grams of gold rose by Rs2,744 to Rs370,658. A tola is a traditional unit of weight widely used by Pakistani goldsmiths, and local rates are quoted both per tola and per 10 grams. The two figures move together, so a rise in one shows up in the other.
Silver moved up in the same session. Internationally, an ounce of silver gained 55 cents to reach $52.45. Locally, one tola of silver rose by Rs55 to Rs5,723, and 10 grams rose by Rs47 to Rs4,906.
Why international prices matter locally
Local rates generally follow the international price of gold and silver, which is quoted in US dollars per ounce. When the dollar price rises, the rupee rate in local markets tends to rise too, which is what the Monday figures show. An ounce is the standard unit for the international market, while the tola is the unit used at home.
The increase followed a two-day period in which prices had not moved up, so Monday's rise restarted the upward movement. Retail jewellery prices can be higher than these bullion rates, because shops often add making charges to the gold they sell. Buyers should therefore compare the day's rate with the shop's price before paying.
Aasan alfaaz mein
Sona aur chaandi dono Peer ke din Pakistan mein phir mehnge ho gaye hain, do din ke waqfe ke baad. Sona 1 tola par Rs3,200 barh kar Rs432,336 ho gaya hai, aur chaandi 1 tola par Rs55 barh kar Rs5,723 ho gayi hai. Jo log sona ya chaandi kharidne ka soch rahe hain, unhein kharidne se pehle aaj ka rate zaroor dekhna chahiye.
