The price of gold in Pakistan saw a significant rise on Friday, with 24-karat gold now selling at Rs241,500 per tola, marking an increase of Rs800 per tola.
This adjustment is notable as the price has been maintained Rs1,500 below its actual cost due to a reduction in purchasing power.
The Karachi Sarafa Association reported that the price of 24-karat gold per 10 grammes has increased by Rs686, bringing it to Rs207,047. Similarly, 22-karat gold saw a price hike, reaching Rs189,793 per 10 grammes.
In contrast, silver prices remained steady in the domestic market. The price of 24-karat silver continued to be Rs2,750 per tola and Rs2,358 per 10 grammes.
On the international stage, spot gold was trading near $2,331 an ounce, reflecting a rise of $28.7 or 1.25 per cent from the previous session. This upward trend in the global market has influenced the local pricing dynamics in Pakistan.
The ongoing fluctuation in gold prices is closely monitored by investors and market participants, as it reflects broader economic conditions and purchasing power within the country.
