Gold Rate in Pakistan Surges to Rs361,200
The gold price increase is a result of the international market trends, with the price of gold per ounce rising to $3,387, and the subsequent decrease due to a drop in the international rate to $3,363 per ounce, affecting the gold rate in Pakistan.
Gold prices in Pakistan witnessed a significant increase on Monday, with the price of gold per tola reaching Rs361,200, up by Rs3,600, while the rate for 10 grams of gold increased to Rs309,671, following a rise in the international market.
The international market saw gold prices rise to $3,387 per ounce with a $20 premium, a gain of $36, which subsequently led to the increase in gold prices in Pakistan. However, silver prices remained stable at Rs4,012 per tola. The fluctuation in gold prices is a common phenomenon in Pakistan, heavily influenced by international market trends.
In contrast, gold prices in Pakistan declined on Thursday, following a decrease in the international market. The price of 10-gram gold dropped to Rs307,784, a loss of Rs5,058, while the price of gold per tola also decreased to Rs359,000, a loss of Rs5,900. The international rate of gold decreased by $61 to $3,363 per ounce, resulting in a decline in gold prices in the local market.
The frequent fluctuations in gold prices in Pakistan are a result of the country's gold market being heavily dependent on international trends. The rates of gold vary across local gold markets and Sarafa markets, making it essential for investors and buyers to stay updated with the latest prices.