On November 2, 2023, the domestic gold market in Pakistan experienced a shift in line with international market trends. According to data provided by the All Pakistan Gems and Jewellers Association, the price of 24-karat gold per tola increased by Rs1,286, settling at Rs213,300. However, the price of 10-gram gold saw a decrease of Rs1,179, dropping to Rs182,870 in the local market.
The price of 24-karat gold across various cities in Pakistan, including Lahore, Karachi, Islamabad, Peshawar, Quetta, Sialkot, Attock, Gujranwala, Jehlum, and Multan, stood at Rs212,000 per tola. The price for 10 grams of 24-karat gold was Rs181,756, while 10 grams of 22-karat gold was priced at Rs166,609.
Despite the negative trend in the global bullion market, where the rate hovered around $1,983 per ounce, gold rates in the Pakistani market witnessed a slight increase. This fluctuation in gold prices reflects the dynamic nature of the gold market, which is influenced by a variety of factors, including international market trends and local demand and supply conditions.