According to Federation of Gold and Silver Dealers Association , the precious yellow metal is being traded at Rs 54,612 per 10 grams after an increase of Rs1971 in local market.
The hike in gold prices in Pakistan was seen after an increase in rates by $6 in international market causing its value up by $1222 per ounce.
The investors are showing interest in the gold business after the decline in Petroleum Oil Lubricants prices in international market.
It is pertinent here to mention that the prices of petroleum products are expected to reduce by Rs5 to Rs7 per liter from coming month.
According to sources, the rate of crude oil in international market has witnessed a sharp decrease of 25 percent in a month.