Gold prices surge in Pakistan by 2200 per tola
Stay tuned with 24 News HD Android App
The price of gold in Pakistan surged on Friday, with the rate of 24-karat gold rising by Rs. 2,200 per tola, bringing it to Rs. 276,900, reported 24NewsHD TV channel.
The All Sindh Sarafa Jewellers Association reported this increase, which marked a sharp jump from the previous trading day’s price of Rs. 274,700 per tola.
Similarly, the price of 10 grams of 24-karat gold saw a rise of Rs. 1,886, reaching Rs. 237,397 compared to Rs. 235,511 the day before.
The rate for 10 grams of 22-karat gold also climbed, moving up to Rs. 217,614 from Rs. 215,885.
Despite the gold price hike, silver remained steady. Both per tola and 10-gram silver were sold at Rs. 3,350 and Rs. 2,872.08, respectively, maintaining their existing rates.
The surge in local gold prices mirrored the international market, where the price of gold rose by $22, reaching $2,657 per ounce from $2,635.
Experts attribute the increase in gold prices to fluctuations in the global market and the growing demand for the precious metal, which continues to hedge against inflation and economic uncertainty.
Local traders anticipate further changes in gold prices in the coming days, influenced by global market trends and the rupee-dollar exchange rate.
Reporter: Ayaz Rana