Gold prices in Pakistan experienced a substantial rise on Friday, reflecting a similar surge in the international market. The price of 24-karat gold increased by Rs4,600, bringing the cost to Rs243,800 per tola.
Despite the sharp increase, the Karachi Sarafa Association has kept the price Rs3,000 below its actual cost.
According to the association, this decision was made to accommodate the reduced purchasing power among consumers.
“In view of the significant reduction in purchasing power, the price of gold today has been kept under cost by Rs3,000,” stated a spokesperson for the association.
In recent weeks, the price of 24-karat gold has shown considerable fluctuations. Last week, it dropped by Rs6,400 per tola, leading to a cumulative loss of Rs14,200 per tola or 5.63 per cent over the past two weeks.
Alongside the increase in 24-karat gold prices, other precious metals also experienced a boost.
The Karachi Sarafa Association reported the price of 24-karat gold at Rs209,019 per 10-gramme, marking a gain of Rs3,944. Similarly, the price of 22-karat gold rose to Rs191,601 per 10-gramme.
Silver prices followed the upward trend, with 24-karat silver priced at Rs2,650 per tola, up by Rs30. The price for 10-gramme 24-karat silver also rose, reaching Rs2,271.94, a gain of Rs25.72.
