The price of gold increased by Rs500 to stand at Rs215,200 per tola for selling on January 24 as against the previous price of Rs215,700 in the local market of Pakistan, the All Sindh Sarafa Jewellers Association reported on Tuesday.

Similarly, the price of 10 grammes of gold increased by Rs429 to Rs184,500 as against the earlier price of Rs184,071 per 10 grammes.

Meanwhile, the price of 10 grammes 22 karat gold went down to Rs169,124 from Rs168,731.

The price of per tola and 10 grammes silver remained unchanged at Rs2,600 and Rs2,2229.08, respectively.

Gold prices rose on Tuesday, as the US dollar edged lower while investors awaited interest rate decisions from a number of central banks and a slew of economic data in the United States this week.

Spot gold rose 0.3% to $2,026.19 per ounce while US gold futures rose 0.3% to $2,027.50.