Gold prices in Pakistan experienced a significant rise on Thursday, with 24-karat gold now being sold at Rs243,300 per tola, marking an increase of Rs1,000 per tola from the previous day.

Despite this increase, the price remains Rs3,000 below its actual cost, reflecting the ongoing reduction in purchasing power.

The Karachi Sarafa Association reported that the price of 24-karat gold per 10 grammes rose by Rs857, reaching Rs208,590. In comparison, 22-karat gold saw a similar upward trend, priced at Rs191,207 per 10 grammes.

In contrast, silver prices remained stable in the domestic market. The price of 24-karat silver stood at Rs2,850 per tola and Rs2,443 per 10 grammes, showing no change from the previous rates.

On the international stage, spot gold traded near $2,357 an ounce, a slight decline of $2.2 or 0.09 per cent from the previous session. This minor dip did not significantly impact the local market, where the primary concern remains the diminished purchasing power of consumers.

The ongoing fluctuations in gold prices highlight the broader economic challenges facing consumers and traders alike in Pakistan.