Gold prices in Pakistan experienced a downward shift on Thursday, following a series of gains earlier in the week. The price of a tola of gold fell by Rs5,300, closing at Rs221,000, according to data from the All-Pakistan Sarafa Gems and Jewellers Association (APSGJA).
This decline was not mirrored in the international market, where the price of the precious metal increased by $10, settling at $1,967 per ounce. Despite the fluctuation in gold prices, the cost of silver remained steady in Pakistan, with a tola and 10 grams priced at Rs2,650 and Rs2,271.94 respectively.
The price of 10 grams of 24-carat gold also saw an increase, rising by Rs4,544 to settle at Rs189,558. However, it’s important to note that the gold rate in Pakistan is subject to changes in the international market, meaning prices are never fixed.
In various cities across Pakistan, including Lahore, Hyderabad, Nowshehra, Sargodha, Faisalabad, Mirpur, Karachi, Islamabad, Peshawar, Quetta, Sialkot, Attock, Gujranwala, Jehlum, Multan, Bahawalpur, Gujrat, Nawabshah, and Chakwal, the price of a single tola of 24-karat gold was recorded at Rs226,400 on Thursday.
Meanwhile, the foreign currency exchange rates for US Dollar, Saudi Riyal, UK Pound Sterling, U.A.E. Dirham, European Euro, and other foreign currencies were also updated in the Pakistan open market on July 20, 2023. The Forex Association of Pakistan provided these updates at 09:00 AM.
As the gold market continues to fluctuate, both local and international investors will be keeping a close eye on trends, hoping for stability in the coming days.
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