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Gold Price in Pakistan Posts Second Straight Increase as International Prices Rise

The price of gold in Pakistan increased for the fourth time during the current week on Friday to settle at Rs. 216,800 per tola.

According to data issued by the Karachi Sarafa Association, the price of gold (24 carats) went up by Rs. 1,100 per tola to Rs. 216,800 while the price of 10 grams increased by Rs. 943 to Rs. 185,871.

Today’s increase was the second consecutive increase after the price of the precious metal went down by Rs. 1,100 per tola on Wednesday. The price of gold had risen by Rs. 700 per tola on Monday before a marginal increase of Rs. 100 per tola on Tuesday. Yesterday, the price of gold rose by Rs. 900 per tola.

In the international market, spot gold was up 0.1 percent to $2,046.09 per ounce as of 0420 GMT, while the US gold futures were flat at $2,054.60.

It is pertinent to mention here that the price of gold in the country is dependent on the Rupee-Dollar exchange rate and international gold prices. Since the exchange rate has largely been stable for the past many weeks, the fluctuation in the price is largely due to changes in international prices.

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ProPK Staff