Pakistan Sees Gold Prices Hit Record High

The price of gold in Pakistan has surged to an all-time high, with 24-karat gold increasing by Rs 2,900 to Rs 289,600 per tola, and 10 grams of 24-karat gold rising by Rs 2,486 to Rs 248,285, as the international market experiences fluctuations.

According to the All-Pakistan Gems and Jewellers Sarafa Association, the international rate of gold increased by $29 on Friday, reaching $2,747 per ounce, which subsequently led to a rise in local gold prices. The price of 22-karat gold also saw an increase, with 10 grams rising by Rs 1,280 to Rs 227,603. Silver prices also experienced an uptick, with a tola of silver rising by Rs 31 to Rs 3,432 and 10 grams of silver going up by Rs 27 to Rs 2,942.

However, after reaching record highs, gold prices experienced a slight dip, with international prices falling by $2 to $2,770 per ounce. Locally, 24-carat gold prices dropped by 200 Pakistani rupees, bringing the price of one tola to 289,400 rupees. The price of 10 grams of gold also decreased by 172 rupees, settling at 248,113 rupees.

The fluctuation in gold prices is attributed to global market trends, with the international price of gold reaching $2,772 per ounce before experiencing a slight decline. The local market saw a surge in gold prices, with 24-carat gold reaching a new record high of Rs 289,600 per tola on Friday, increasing by Rs 2,900 from the previous day.

As the gold market continues to experience fluctuations, it remains to be seen how prices will trend in the coming days. The All-Pakistan Gems and Jewellers Sarafa Association will continue to monitor international market trends and adjust local prices accordingly.