Gold soars to Rs442,800 per tola in Pakistan
Key Takeaways
- Gold price in Pakistan rose sharply on Thursday by Rs1,900 per tola to reach Rs442,800.
- The increase is attributed by jewellers to global market volatility and exchange rate fluctuations.
- International gold prices also increased, climbing by $19 to settle at $4,217 per ounce.
- Previous reports indicated an even larger spike, with 24-karat gold reaching Rs440,900 per tola.
- The global rise is linked to growing investor interest due to economic uncertainty and unstable currency values.
The price of gold in Pakistan continued its sharp upward trajectory on Thursday, with the rate per tola increasing by Rs1,900 to reach Rs442,800, as reported by the All Pakistan Gems and Jewellers Association (APGJA). The price for 10 grams of 24-karat gold also saw a substantial rise of Rs1,629, settling at Rs379,629. Internationally, gold prices followed suit, climbing by $19 to settle at $4,217 per ounce. Jewellers attribute this persistent increase in domestic bullion prices to a combination of global market volatility and local exchange rate fluctuations. Earlier reports indicated even sharper increases, with 24-karat gold per tola rising by Rs5,800 to Rs440,900. Experts suggest the global rise is fueled by increasing investor interest stemming from economic uncertainty and unstable currency values.
