In a notable upswing, the price of 24-karat gold in Pakistan surged by Rs2,400 on Wednesday, bringing the cost to Rs242,700 per tola.
This increase reflects the ongoing volatility in the gold market, influenced by both domestic and international factors.
Interestingly, the current price of gold remains Rs3,000 below its actual market value. This discrepancy is primarily attributed to a reduction in purchasing power, as reported by market analysts.
The Karachi Sarafa Association disclosed that the price of 24-karat gold also rose to Rs208,076 per 10 grammes, marking an increase of Rs2,058.
The price of 22-karat gold followed this upward trend, reaching Rs190,736 per 10 grammes.
Silver prices have also climbed, keeping pace with international trends. The price of 24-karat silver now stands at Rs2,900 per tola and Rs2,486.28 per 10 grammes, up by Rs100 per tola and Rs85.74 per 10 grammes, respectively.
On the global stage, spot gold traded at approximately $2,345.04 per ounce, a decline of 0.66 per cent from the previous day’s closing. In contrast, spot silver maintained its strength, trading near $32 per ounce after recording a 1.36 per cent increase the previous day.
