Gold price increases by Rs1,200 per tola

KARACHI: Gold prices in Pakistan saw a significant increase on Thursday, with 24-karat gold reaching Rs246,800 per tola, marking a rise of Rs1,200.

The Karachi Sarafa Association attributed the increase to market conditions and a reduction in purchasing power, noting that the price was kept Rs2,500 below its actual cost to reflect this economic factor.

The price of 24-karat gold was reported at Rs211,591 per 10 grammes, an increase of Rs1,029 per 10 grammes. Meanwhile, the price of 22-karat gold also saw an upward adjustment, reaching Rs193,959 per 10 grammes.

In contrast, silver prices in the domestic market remained stable. The price of 24-karat silver was unchanged at Rs2,900 per tola and Rs2,486 per 10 grammes.

On the international front, spot gold traded near $2,382 an ounce, experiencing a rise of $9.6 or 0.41 per cent from the previous session.

This fluctuation in gold prices reflects both local market dynamics and global economic trends, highlighting the ongoing volatility in precious metal markets.

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