Islamabad, Oct 4: Gold Prices Surge by Rs. 1,800, Reaching Rs. 276,200 per Tola . 24 carat gold was sold for Rs. 276,200 on Friday, a Rs. 1,800 increase in price per tola over the previous trading day’s sale of Rs. 274,400. Gold prices in Pakistan have increased by Rs. 1,800, bringing the new rate to Rs. 276,200 per tola. This rise in prices reflects global market trends and local demand dynamics. The price fluctuation in gold is closely monitored by investors and consumers alike, especially amid varying economic conditions.
According to the All Sindh Sarafa Jewellers Association, the cost of 10 grams of 24 karat gold grew by Rs 1,543 to Rs 236,797 from Rs 235,254, while the cost of 10 kilos of 22 carat gold increased to Rs 217,064 from Rs 215,650.
Silver prices per tola and per ten grams stayed at Rs. 2,614.88 and Rs. 3,050, respectively.According to the Association, the price of gold on the global market rose by $18, from $2,642 to $2,660.
In addition, the Pakistani rupee strengthened against the US dollar, gaining Rs 0.08 in the inter-bank market to close at Rs 278.54.In the open market, it improved by Rs 0.10, settling at Rs 280.85 per dollar. Market speculation indicates that foreign investors have invested $27 million in Pakistan’s government debt securities, bolstering forex reserves and providing support for the rupee.
This background sets the stage for understanding the current dynamics in the gold market and currency fluctuations in Pakistan, which may be relevant for today’s analysis.
