Gold Prices in Pakistan Surge to Rs306,300
The rise in gold prices is attributed to a combination of factors, including the increase in international prices and the rupee-dollar parity. As the situation continues to evolve, it is essential to keep track of the latest developments in the gold market to make informed decisions.
Gold prices in Pakistan have surged, with 24-carat gold per tola rising by Rs4,800 to Rs306,300 and gold per 10 grams increasing by Rs4,115 to Rs262,602, due to a rise in international market trends.
The All Sindh Saraf Jewellers Association determines gold prices in Pakistan, which have been impacted by the country's status as a net importer of gold and the rupee-dollar parity. The international rate of gold also rose by $47 to $2,916 per ounce with a premium of $20, contributing to the increase in local market prices.
Silver prices have also risen, with per tola silver increasing by Rs48 to Rs3,315 and silver per 10 grams increasing by Rs39 to Rs2,842. The US dollar exchange rate remained stable at Rs279.85 buying and Rs279.65 selling, while the Karachi Stock Exchange (KSE) saw a mixed trend with some shares increasing and others decreasing in value.
The fluctuation in gold prices in Pakistan is closely tied to international market trends, and the current surge is expected to impact the local market. The All Sindh Saraf Jewellers Association will continue to monitor the situation and adjust prices accordingly.
