Price of gold surge by Rs2,200 per tola

KARACHI: The price of gold in Pakistan witnessed a significant increase on Saturday, with the rate per tola rising by Rs2,200.

According to All-Pakistan Gems and Jewelers Sarafa Association (APGJSA), the new price of gold per tola now stands at Rs282,700. Meanwhile, the price of 10 grams of gold saw an increase of Rs1,857, bringing it to Rs242,370.

The bullion rates in Pakistan have been continuing the upward trend for days, reflecting fluctuations in both international markets and local currency exchange rates.

On Friday, the price of gold per tola rose by Rs2,500, bringing it to Rs280,500 in the local market. Similarly, the price for 10 grams of gold increased by Rs2,143 to Rs240,483.

This rise followed Thursday’s increase when the per tola rate jumped by Rs3,700 and closed the session at Rs278,000.

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Experts believe that gold prices are surging due to escalating tensions in the Russia-Ukraine conflict, and the situation in the Middle East. “The escalation in the war between Russia and Ukraine and subsequent fears of a broader regional conflict that involves increasing threats of nuclear weapons are pushing up (gold) prices,” said Kyle Rodda, financial market analyst at Capital.com.

Gold price history (November 2024)

November 1: Rs284,700 per tola

November 2: Rs283,000 per tola

November 3: Sunday

November 4: Rs283,700 per tola

November 5: Rs283,200 per tola

November 6: Rs282,200 per tola

November 7: Rs276,800 per tola

November 8: Rs278,800 per tola

November 9: Rs278,800 per tola

November 10: Sunday

November 11: Rs277,500 per tola

November 12: Rs231,911 per tola

November 13: Rs271,900 per tola

November 14: Rs266,400 per tola

November 15: Rs267,700 per tola

November 16: Rs267,400 per tola

November 17: Sunday

November 18: Rs269,900 per tola

November 19: Rs273,500 per tola

November 20: Rs274,300 per tola

November 21: Rs278,000 per tola

November 22: Rs280,500 per tola