Gold price surges again in Pakistan

KARACHI: The price of gold witnessed a sharp surge on the fifth and last day of the business week, following the upward trend in the international market.

According to the figures released by the Sindh Sarafa Bazaar Association, the price of gold per tola has increased by Rs1,800, reaching a staggering Rs222,900.

With this rise, the price of 10 grams of gold stands at Rs191,100, witnessing an increase of Rs1,542.

This surge in gold prices comes after a recent decrease in the market. Investors and traders are closely monitoring the fluctuations in the precious metal’s value, as it can have significant implications for the economy and financial markets.

According to the data from Bullion Rates, the price of gold per tola in Pakistan was Rs229,000 on June 1, 2023 and reached its highest level of Rs258,000 on June 21, 2023.

However, since then, the price has been falling steadily and reached its lowest level of Rs226,400 on July 20, 2023.

The price of 10 grams of gold also followed a similar pattern, starting from Rs197,620 on June 1, 2023 and peaking at Rs221,200 on June 21, 2023. It then dropped to Rs192,560 on July 20, 2023.

The price of silver also declined by Rs50 per tola and Rs42.86 per 10 grams on Thursday. The new prices of silver are Rs2,590 per tola and Rs2,221.71 per 10 grams respectively.

The gold traders and investors are advised to keep an eye on the market fluctuations and make informed decisions accordingly.