Gold price increases by Rs1,200 to Rs246,800 per tola

On Thursday, gold prices in Pakistan saw a notable increase, reflecting global market dynamics. According to the Karachi Sarafa Association, 24-karat gold was priced at Rs246,800 per tola, marking a Rs1,200 rise per tola.

Notably, despite this uptick, the price remains Rs2,500 below its actual cost due to prevailing economic conditions impacting purchasing power.

For 10-gramme quantities, the price of 24-karat gold stood at Rs211,591, up by Rs1,029 per tola. Meanwhile, 22-karat gold was quoted higher at Rs193,959 per 10 grammes.

In contrast, silver prices remained steady within the domestic market. The price of 24-karat silver was reported at Rs2,900 per tola and Rs2,486 per 10 grammes.

Internationally, spot gold prices near $2,382 per ounce showed a modest increase of $9.6 or 0.41 per cent from the previous session.

This latest movement in precious metal prices underscores both local economic factors influencing consumer buying power and broader global trends impacting commodity markets.