Gold Prices Skyrocket: Massive Per Tola Hike in Pakistan
Prices for gold in Pakistan experienced a significant rise on Wednesday, with rates rising by about Rs4,250 per tola, which brought the cost of gold that is 24-karat to Rs287,450,
As per the All Pakistan Sarafa Gems and Jewellers Association (APSGJA), the cost for 10 grams 24karat gold was also up by Rs3,642, and landed at the price of Rs246,440. In addition, the 10-gram gold with 22-karat purity increased by Rs3,346 and reached Rs225,911.
Keep reading:
- PTI Calls on Government to Establish Commission for Next Round of Talks
- Senator Criticizes Government for Blocking Pro-Crypto and Digital Assets Bill
- Thailand Cracks Down: Pakistani Travelers Using Fake Documents to Face Blacklist
This increase in local gold prices coincides with an increase of a significant magnitude on the international market, where prices for gold increased by $40 to $2,751 an ounce.
The prices of silver also saw an increase. The cost of a tola of silver that weighs 24karat increased by Rs59.40 and reached the price of Rs3,431, while 10-grams of silver experienced an increase of Rs51.50 and was at Rs2,941. In the international market, silver prices edged upwards by $0.56 and reached $30.84 per one ounce.
Experts have attributed the increase to global market conditions and an weakened local currency. With the ongoing uncertainty of markets around the world, gold and silver are an option for investors.