Monday, October 2, 2023

Huge Gain in Gold Price in Pakistan, Here’s Today Rates

Gold prices in Pakistan have witnessed a significant increase for the second consecutive day, causing concern among consumers and investors. According to the All Pakistan Gems and Jewellers Association, the price of gold per tola, which is equivalent to 11.66 grams, has surged to Rs. 207,800. This reflects a substantial rise of Rs. 1,800 compared to the previous day’s rate.

Moreover, the rate for 10 grams of gold has reached Rs. 178,155, with an increase of Rs. 1,543. This sudden surge in gold prices can be attributed to various factors, including global market trends and fluctuations in the value of the US dollar.

Internationally, the price of gold has experienced a decline, with a decrease of $23 to $1,905 per ounce. However, this downward trend in the global market has not translated into a decrease in gold prices in Pakistan.

This recent surge in gold prices follows a similar trend from the previous day when gold rates recorded an increase of Rs. 1,000 per tola. Such continuous and significant fluctuations in gold prices have implications for both consumers and investors, as they impact jewelry purchases, investment decisions, and the overall economy.

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