Gold prices in Pakistan have witnessed a sharp increase for the second consecutive day of the business week. The surge is attributed to the weakening of the Pakistani rupee against the US dollar in the domestic market.
According to data from the All-Pakistan Sarafa Gems and Jewellers Association (APSGJA), the price of per tola gold rose by Rs6,200, closing at Rs221,000. Similarly, the price of 10 grams of 24-carat gold experienced a hike of Rs5,316, settling at Rs189,472.
The international market also mirrored this upward trend, with the price of the precious metal increasing by $10 to close at $1,967 per ounce. However, the prices of silver remained stable, with per tola and 10 gram silver priced at Rs2,650 and Rs2,271.94 respectively.
On the same day, the Forex Association of Pakistan reported that the exchange rate for the US Dollar was buying at 281.9 and selling at 285.65.
The price of a single tola of 24-karat gold was recorded at Rs211,500 across various cities including Lahore, Karachi, Islamabad, Peshawar, Quetta, Sialkot, Attock, Gujranwala, Jehlum, Multan, Bahawalpur, Gujrat, Nawabshah, Chakwal, Hyderabad, Nowshehra, Sargodha, Faisalabad, and Mirpur. The price of 10 grams of 24k gold was noted at Rs181,330, while 10 grams of 22k gold were being traded for Rs166,218. A single tola of 22-karat gold was being sold at Rs193,874.
It’s important to note that gold rates in Pakistan fluctuate according to the international market, hence the prices are never fixed. The rates provided are sourced from local gold markets and Sarafa Markets of different cities.
