Gold price increases in Pakistan

Gold prices in Pakistan continued their upward trajectory for the second consecutive day, following the international market’s trend.

The All-Pakistan Sarafa Gems and Jewellers Association (APSGJA) reported that the price of one tola (11.66 grams) of gold surged by Rs1,300, closing at Rs222,800. Similarly, the price of 10 grams of 24-carat gold saw an increase of Rs1,115, settling at Rs191,016, as per APSGJA data.

However, in the global market, the price of gold experienced a slight dip of $10, reaching $1,942 per ounce.

Meanwhile, the prices of silver remained stable, with one tola and 10 grams of silver holding at Rs2,750 and Rs2,357.68, respectively.

Price of Gold in Previous Week

Over the past several weeks, the price of gold has experienced significant volatility, but during the current week, it remained relatively stable with only minor fluctuations. The week commenced with a decline of Rs. 2,500 per tola, followed by no change on Tuesday.

However, on Wednesday, the price increased by Rs. 800 per tola.

Subsequently, Thursday witnessed a decrease of Rs. 2,800 per tola, but the price rebounded on Friday with an increase of Rs. 1,300 per tola. The overall effect of these fluctuations throughout the week resulted in a net decrease of Rs. 1,900 per tola.

Earlier, the price of gold had reached a record high of Rs. 240,000 per tola. However, it dropped to as low as Rs. 204,000 on July 12. Fortunately, in recent weeks, the price has shown signs of recovery. Investors and traders are closely monitoring the precious metal’s movement amid ongoing economic uncertainties.