Gold prices in Pakistan witnessed a remarkable increase for the second day in a row, resulting in a cumulative gain of over Rs. 10,000 per tola (11.66 grams) in just two days.
According to the data released by the All-Pakistan Sarafa Gems
and Jewellers Association (APSGJA), the price of 24-carat gold surged by Rs.
6,500 per tola to reach Rs. 214,500, while the price of 10 grams rose by Rs.
5,574, closing at Rs. 183,900.
This surge follows a fluctuating trend earlier in the week, with gold prices rising by Rs. 800 per tola on Monday, falling by Rs. 5,000 per tola over the next two days, and then experiencing a Rs. 4,000 per tola increase yesterday. The latest increase indicates a substantial rise of Rs. 6,300 per tola during the current week, with the last two days accounting for an increase of Rs. 10,500 per tola.
In the international market, spot gold witnessed a slight decline of 0.2 percent, reaching $1,956.29 per ounce by 1301 GMT, while US gold futures experienced a 0.2 percent decrease, reaching $1,960.60.
The surge in gold prices in Pakistan reflects the volatile nature of the precious metal's value, driven by global market trends and economic uncertainties. Investors and consumers alike continue to monitor these fluctuations as they assess their impact on the gold market and potential implications for the broader economy.
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