On Friday, the gold rates in Pakistan witnessed a sharp rise after remaining stable for a day, following a continuous decline for almost a week.
The price of 24-karat gold increased to Rs243,800 per tola after seeing a major rise of Rs4,600. Dealers reported a similar increase in the price of 10 grams of 24-karat gold, which has gone up by Rs3,944 to Rs209,019.
Furthermore, the price of 10 grams of 22-karat gold also showed a spike to trade at Rs191,601.
These movements are closely linked to changes in the value of the US Dollar, indicating the close relationship between currency values and gold prices. This underscores the impact of global economic factors on local gold markets.
Read more: Gold prices stabilise in Pakistan after recent declines
The price of 24-karat silver also saw a huge increase of Rs30 to trade at Rs2,650. Internationally also, the gold price saw a significant increase of $54, reaching $2,366 per ounce.
It's very important to recognize that gold rates in Pakistan can vary significantly throughout the day, influenced by trends in the global market. The provided gold rates are sourced from reputable sources, primarily based in Karachi and Multan.
For the most up-to-date and accurate information on gold prices, individuals are advised to consult local gold merchants and jewellers.
