Gold Rates Surge in Pakistan Market
The increase in gold rates is a significant development, with the price rising by Rs7,800 per tola, and the global spot gold trading near $3,124 an ounce. This surge is expected to impact the local market and the economy, with many investors and buyers taking notice of the increasing prices.
Gold prices in Pakistan have witnessed a significant increase, with the price of gold rising by Rs7,800 per tola to Rs328,800, and 24-karat gold per 10-gram being sold at Rs281,893. This surge in gold rates is also reflected in the global market, where the spot gold traded near $3,124 an ounce, up $38.2 or 1.24% from the previous session.
The increase in gold prices has been steady, with a single-day increase of Rs3,000 in the local market, reaching Rs321,000 per tola. The All-Pakistan Gems and Jewellers Sarafa Association (APGJSA) has quoted an international rate of $3,040 per ounce with a premium of $20. The silver price has also seen an increase, with 24-karat silver being sold at Rs3,234 per tola and Rs2,772 per 10-gram.
The National Bank of Pakistan (NBP) has released an Exchange Rates Bulletin, providing foreign exchange rates for the day. This surge in gold rates is expected to impact the local market, with many investors and buyers taking notice of the increasing prices. The stability of the silver price at Rs3,170 per tola is also being closely monitored.
As the gold rates continue to rise, it will be interesting to see how the market responds and how this surge affects the economy. With the global spot gold trading near $3,124 an ounce, it is clear that the demand for gold is high, and the prices are likely to remain stable or increase in the coming days.