Confusion surrounds gold prices in Pakistan as the Pakistan Gems and Jewelers Association (PJGA) hasn’t consistently issued daily rates this week.
This inconsistency has left consumers frustrated, especially considering the importance of gold as an investment and a cultural symbol in the country.
Traditionally, gold prices in Pakistan fluctuate based on the global market price per ounce and the local Pakistani Rupee exchange rate. However, the PJGA's recent lack of updates has caused uncertainty for buyers and sellers.
On Thursday, the PJGA finally released gold rates after a three-day gap attributed to holidays earlier in the week. However, today (Friday, August 30th, 2024) they haven't issued any updates, citing rain as the reason.
This lack of transparency and consistent updates has left many consumers feeling frustrated. With the global gold price hovering above $2,500 per ounce, many wonder how this translates to the local Pakistani Rupee price per tola (approximately 11.66 grams). As of writing, the last reported price sits around Rs 261,500 per tola.
