On Wednesday, gold price in Pakistan reversed course in unison with the increase in the world exchange rate. After three sessions of losses, the price of gold per tola in the local market increased. It was Rs244,000 before, a rise of Rs2,900 in a single day.
Gold is one of the oldest assets in the world, and its value is still rising. It is also frequently used as a hedge against other market losses. Will gold’s price drop in the coming days and weeks after hitting new all-time highs due to the strength of the US dollar and the stock market? Read in the article about the rise in gold price in 2024 and in 2023.
All-Pakistan Gems and Jewellers Sarafa Association (APGJSA) shared the rates that show that the 10-gram gold was sold for Rs209,191, up Rs2,487 from the previous price. On Wednesday, the price of gold increased internationally. The cost was fixed at $2,365 per ounce (plus a $20 premium) in accordance with APGJSA. Following a $28 increase during the day.
Silver prices remained steady at Rs 2,650 per tola. In the local market, gold reached an all-time high of Rs252,200 a tola last month. In Pakistan, the price of gold dropped by Rs. 1,200 per tola on Tuesday.
24 Carats Gold Price Rises by Rs. 2200 per Tola (2023)
According to APGJA data, the price of 24 carat precious metal increased by Rs. 2,200 to Rs. 222,800 per tola. The 10 grams gold now cost Rs. 191,015 (instead of Rs. 1,886). It was the third day in a row that the precious metal’s price increased. The price per tola was up by Rs. 1,000 on Wednesday and Rs. 300 on Tuesday.
The weekly total increase is currently Rs. 3,500 per tola. The precious metal’s price on the global market reached a three-week high today. As of 1005 GMT, spot gold was unchanged at $2,078.35, while US gold futures were trading at $2,088.40 per ounce
To read our blog on “24 carats Gold prices surge by Rs. 1000 per tola by today,” click here.
