Islamabad, Oct 11: Gold Prices in Pakistan Surge Significantly After Consecutive Declines. Pakistan’s gold price saw a sharp rise on Friday, closing over the Rs. 273,000 per tola threshold.
The Karachi Sarafa Association released data showing that the price of 24-carat gold increased by Rs. 2,700 to Rs. 273,900, while the price of 24-karat gold per 10-gram increased by Rs. 2,315 to Rs. 234,825 per 10-gram.
In a similar vein, the cost of ten grams of 22-karat gold was Rs. 215,256. It is important to note that the price of gold decreased by Rs. 500 per tola yesterday, and on Wednesday, the decrease was Rs. 3,000 per tola.Right now, the price of gold is marginally lower than the record high of Rs. 277,000 per tola set at the end of the previous month.
Following a string of negative increases, gold prices in Pakistan saw a big uptick. Due to shifting exchange rates, rising demand, and trends in the worldwide market, the market saw a spike of several thousand rupees per tola.
This rise follows a run of steady declines, with gold previously selling at lower prices due to concerns about the state of the world economy. Due to the continued perception of precious metals as a hedge against inflation and currency devaluation, the increase in gold prices has caused investors and consumers to reevaluate their purchasing decisions. Analysts tracking the market anticipate further swings soon.
