Despite a decline in international rates, the price of gold per tola in Pakistan surged to Rs216,000 on Wednesday. According to the All-Pakistan Sarafa Gems and Jewellers Association (APSGJA), the price of 24-carat gold increased by Rs1,800 per tola and Rs1,543 per 10 grams, reaching Rs216,000 and Rs185,185, respectively. On the other hand, the international market witnessed a $16 decrease in the price of gold, settling at $1,906 per ounce.
The gold rate in Pakistan has been experiencing volatility due to ongoing political and economic uncertainty, as well as high inflation. During such times, people often prefer to invest in gold as a safe and secure asset.
In the previous week, the price of gold witnessed a continuous downward trend for seven consecutive sessions. However, the price of silver remained unchanged at Rs2,550 per tola and Rs2186.21 per 10 grams, as reported by the association.
It is worth noting that the price of gold in Pakistan is Rs3,000 per tola lower compared to the Dubai market. This price difference provides an opportunity for individuals to purchase gold at a relatively lower cost within the country.
