Gold Price in Pakistan had a significant jump on Tuesday, increasing by Rs. 900 per tola and closing at Rs. 213,000. This sudden surge in gold prices has caught the attention of investors and buyers across the country.
Data from the All-Pakistan Gems and Jewellers Association
This price hike data comes from the All-Pakistan Gems and Jewellers Association (APGJA), a trusted source for tracking gold prices in the country. According to the APGJA, the price of 24-carat gold rose by Rs. 900 per tola, reaching a new high at Rs. 213,000. Even the price for 10 grams of gold saw a substantial increase of Rs. 771, now standing at Rs. 182,613.
Fluctuations in Gold Prices
Gold prices can be quite volatile and subject to frequent fluctuations. Just the day before, the price of gold had decreased by Rs. 1,200 per tola. This change highlights the unpredictable nature of the precious metal’s value.
Gold Price in Pakistan
Rate per Tola
Rate per 10 grams
|Previous Price||Rs. 212,100||Rs. 182,613|
|Current Price||Rs. 213,000||Rs. 183,384|
|Change||+ Rs. 900||+ Rs. 771|
Global Factors at Play
The recent increase in gold prices is not only a local phenomenon but is also influenced by global factors. Last week, the cumulative price of gold had gone up by Rs. 4,950 per tola. On Friday, the price briefly dropped by Rs. 50, only to rise by Rs. 2,000 on the following Saturday.
These fluctuations can be attributed to rising international bullion rates, coupled with the gradual weakening of the Pakistani Rupee during the week.
Global Gold Rates
It’s important to note that gold prices are not determined in isolation. They are part of a global market, and international gold rates play a significant role. As of the latest data, international gold rates stood at $1,997.5, marking a 0.07 percent increase compared to the previous day’s rates.
The global gold market is currently influenced by various factors, including geopolitical events such as the ongoing Israel-Palestine conflict.