An undated image of a customer looking at the gold jewellery. — Reuters/File
Gold prices jumped in Pakistan on Friday as demand for the safe-haven metal was boosted by seasonal demand as people rush to purchase yellow metal in Ramadan which is followed by a wedding season.
Data released by All-Pakistan Sarafa Gems and Jewellers Association (APSGJA) showed that the price of gold (24 carats) soared by Rs5,600 per tola and Rs4,801 per 10 grams to settle at Rs207,500 and Rs177,898.
The precious commodity registered losses in the last few sessions in line with a decline in international prices and appreciation of the Pakistani rupee against the US dollar.
However, the bullion once again glittered on Friday as local markets reopened today after a day off due to a public holiday on account of Pakistan Day.
