The data shared by All Pakistan Sarafa Gems and Jewellers Associations (APSGJA) shows that the price of 24-carat gold rose by Rs6,500 per tola and Rs5,574 per 10 grams, settling at Rs214,500 and Rs193,900, respectively.
Karachi: Gold prices in Pakistan witnessed a significant surge on Friday, rising by over Rs6,000. This increase is attributed to the recent upward trend in international rates and the depreciation of the Pakistani rupee against the US dollar.
According to the All-Pakistan Sarafa Gems and Jewellers Association (APSGJA), the price of 24-carat gold rose by Rs6,500 per tola and Rs5,574 per 10 grams, settling at Rs214,500 and Rs193,900, respectively.
Gold rates in Pakistan have experienced volatility in recent times due to ongoing political and economic uncertainties, as well as high inflation. During such periods, individuals often turn to gold as a safe investment and hedge against instability.
As per market norms, local gold prices typically increase when the Pakistani rupee weakens against the US dollar and international commodity prices decline.
Meanwhile, the international market saw no change in the price of gold, which remained at $1,959.
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