Gold price in Pakistan sees massive increase

ISLAMABAD: Following the upward trend in the international market, the gold price in Pakistan saw a major surge on Saturday.

According to market reports, the domestic gold price per tola rose by Rs6,100, reaching Rs359,000. The price of 10 grams of gold also increased by Rs5,229, reaching Rs307,784.

Meanwhile, the international bullion price also climbed by $61 per ounce, pushing the global rate to $3,363 per ounce.

Gold price continued downward trend

It is worth noting that the gold price in Pakistan had been on a downward trend for several weeks before breaking the streak today with a sharp increase. Analysts attribute the sudden rise in gold price to global market volatility and the weakening of the rupee against the dollar.

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Yesterday, gold price in Pakistan witnessed a slight decrease of Rs100 per tola, settling at Rs352,900 per tola.

The price of 10 grams of gold dropped by Rs86, reaching Rs302,555. In contrast, silver rates remained unchanged, with one tola priced at Rs3,900 and 10 grams at Rs3,344.

However, the most significant recent drop occurred on July 21, when gold lost Rs5,900 per tola, bringing the price down to Rs359,000.

The price of 10 grams also declined by Rs5,058, settling at Rs307,784.

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The following day, on July 22, gold price in Pakistan fell further by Rs2,300 per tola, reducing the rate to Rs356,700. Similarly, the price of 10 grams dropped by Rs1,972, closing at Rs305,812.