Gold price rises by Rs2,300 per tola

KARACHI: On Wednesday, gold prices in Pakistan saw a notable increase. The price of 24-karat gold surged to Rs252,800 per tola, marking an increase of Rs2,300.

Despite this rise, the current price remains Rs3,000 below its actual cost, a discrepancy attributed to decreased purchasing power in the market.

According to the Karachi Sarafa Association, the price of 24-karat gold was reported at Rs216,735 per 10 grammes, up by Rs1,972. The price of 22-karat gold also saw an increase, reaching Rs198,674 per 10 grammes.

In contrast, silver prices remained stable in the domestic market. The cost of 24-karat silver was steady at Rs2,920 per tola and Rs2,503 per 10 grammes.

On the international front, spot gold was trading at approximately $2,414 per ounce, reflecting a modest rise of $5.50 or 0.23 per cent from the previous session.

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