Gold prices see another huge increase in Pakistan
Gold (24 carats) rose by Rs3,200 per tola
May 13, 2023 07:17 PM
Gold prices in Pakistan on Saturday surged significantly following an increase in the global market, reported 24NewsHD TV channel.
According to data provided by the All Pakistan Sarafa Gems and Jewellers Association, the rate of gold (24 carats) rose by Rs3,200 per tola and Rs2,743 per 10 grams to reach Rs234,000 and Rs200,617, respectively.
Additionally, the price of 22 karat gold per 10 grams was recorded at Rs183,900.
The international price of gold rose by $5 to $2,010 per ounce, impacting the local rates in Pakistan.
Analysts have said the international rate will continue to fluctuate in the current month amid uncertainty around the raising of the US debt ceiling.
Alongside the rise in gold rates, the silver market also experienced an upward trend in the domestic markets. Silver, with a purity of 24 karat per tola, witnessed an increase of Rs100, bringing the price to Rs2,900. Similarly, the rate of silver with a purity of 24 karat per 10 grams grew by Rs85.74 to reach Rs2,486.28.