KARACHI (National Times)- In line with the international market, gold prices in Pakistan recorded a gain of Rs600 per tola on Tuesday to settle at Rs124,800.

The price of the precious commodity rose by Rs515 per 10 grams to settle at Rs106,996 per 10 grams, respectively.

Cumulatively, the yellow metal had lost Rs1,900 per tola in the local market during the week that ended on February 4.

The international gold price edged higher by $5 to close at $1,818 as mounting inflationary pressures and concerns around Ukraine kept the precious metal in demand, while investors await more data this week to weigh how aggressively the US Federal Reserve will hike interest rates.

However, it is pertinent to mention that the gold rates in Pakistan are around Rs1,000 below cost compared to the gold rate in the Dubai market.

Meanwhile, silver prices in the domestic market remained unchanged at Rs1,450 per tola and Rs1,243.14 per 10 gram today.