Gold shines in Pakistan as price rises by Rs4,000 per tola

The gold rate has been volatile in Pakistan recently amid continued political and economic uncertainty, and high inflation. People prefer to buy gold in such times as a safe investment and a hedge.

As the month of Muharram is set to arrive, people tend to buy and sell the precious commodity, increasing its demand. 

Data shared by the association showed the price of silver increased by Rs50 per tola and Rs42.87 per 10 grams to settle at Rs2,600 and Rs2229.08, respectively. 

A day earlier, the price of the bullion fell by Rs500 per tola and Rs429 per 10 grams.

Meanwhile, the local currency gained minimally by 0.37% against the greenback in the interbank market today, according to the data shared by the State Bank of Pakistan (SBP).