Gold rates in Pakistan saw another spike as the 24-karat per tola gold was sold at Rs234,800, with a Rs3,800 increase from the last trading day. The price of 10 grams of 24-karat gold also rose to Rs201,303. The international gold rate reached $2,254 per ounce, marking a record high.
KARACHI: Gold price witnessed another spike on Friday as 24 karat per tola yellow metal was sold at Rs234,800 after an increase of Rs,3800 and as compared to its sale at Rs.231,000 on the last trading day, ARY News reported.
According to the All Sindh Sarafa Jewellers Association (ASSJA), the price of 10 grams of 24-karat gold also increased by Rs3,258 to Rs201,303
With an increase of US$44, the international rate of gold on Friday hit a record high as it reached $2,254 per ounce, in the international market, ASSJA said.
Earlier on Thursday, the per tola price of 24 karat gold witnessed an increase of Rs.1,500 and sold at Rs.231,000.
The price of 10 grams of 24 karat gold also increased by Rs.1,285 to Rs.198,045 from Rs.196,760 whereas the price of 10 gram 22 karat gold went up to Rs.181,541 from Rs. 180,363, the ASSJA reported.
The price of per tola and ten-gram silver remained constant at Rs.2,580 and Rs.2,211.93 respectively.
The price of gold in the international market increased by $14 to $2,214 from $.2,200, the association reported.
The recent surge in gold rates has created a buzz in Pakistan’s financial landscape. With the global markets experiencing volatility, the domestic gold rates have seen a sharp incline, leaving both investors and consumers in a state of contemplation. The intricate relationship between international economic trends and local market dynamics has contributed to this upward trend in gold prices.
As the country grapples with a challenging economic environment, the significance of gold as a safe-haven asset has come to the forefront. Investors are closely monitoring these developments for potential implications on their portfolios, while the general populace is assessing the impact on their purchasing power and savings. The spike in gold rates has prompted discussions on the broader economic outlook and the measures that individuals can take to safeguard their financial interests.
The surge in gold rates further underscores the need for a comprehensive understanding of the interconnectedness of global and local economic forces. It serves as a reminder for individuals to stay informed and proactive in navigating the ever-changing financial landscape. While the fluctuations in gold rates may present challenges, they also offer an opportunity for a deeper reflection on financial resilience and long-term planning.
As the situation continues to evolve, it is essential for both seasoned investors and everyday consumers to stay abreast of the developments in the gold market and adapt their financial strategies accordingly. The current spike in gold rates in Pakistan serves as a catalyst for a broader conversation about economic uncertainties and the prudent measures that can be taken to mitigate their impact.
Source: ARY NEWS
Gold rates spike, reaching Rs234,800 per tola in Pakistan, reflecting a Rs3,800 increase from the last trading day. The 24-karat gold price surged to Rs201,303 per 10 grams, marking a Rs3,258 rise. In the international market, the gold rate reached $2,254 per ounce, an increase of $44. The previous day saw 24 karat gold selling at Rs231,000 per tola and Rs198,045 per 10 grams. Meanwhile, silver rates remained unchanged. These developments indicate an upward trend in gold prices, both domestically and internationally, impacting the precious metal market.
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