Gold price in Pakistan sees fresh increase

ISLAMABAD: Gold price in Pakistan broke its downward streak on Wednesday, in contrast to the international market where gold slipped slightly.

According to the All Pakistan Sarafa Gems and Jewellers Association, the rate of 24-karat gold rose by Rs1,300 to Rs359,300 per tola.

Similarly, the price of 10 grams of 24-karat gold increased by Rs1,114 to Rs308,041.

The latest rise follows fluctuations in the international bullion market, where gold remains under pressure due to persistent global economic uncertainty and currency volatility.

In the international market, gold prices were on a downward trend as the dollar regained strength, prompting investors to stay cautious ahead of key announcements from the US Federal Reserve.

On Tuesday, gold price in Pakistan had resumed their downward trend after maintaining an upward trajectory for over a week, in line with international market movements.

The gold rate in the local market dropped sharply on Monday, with the per tola price falling by Rs1,500 to Rs358,000. Similarly, the price of 10 grams of 24-karat gold fell by Rs1,286 to Rs306,927.

Upward trend in gold price

Except for Tuesday, gold price in Pakistan had been climbing steadily for several days after remaining on a downward trend for weeks.

Even on Monday, this upward trajectory had continued, with the per tola rate in the local market rising by Rs500 to Rs359,500. The price of 10 grams of 24-karat gold climbed by Rs429 to Rs308,213, while 10 grams of 22-karat gold were being sold at Rs282,529.

As part of this upward trend, gold price in Pakistan witnessed a significant surge on August 1, when the per tola price rose by Rs6,100 to reach Rs359,000. The price of 10 grams of 24-karat gold also increased by Rs5,229 to Rs307,784.