The price of gold (24 carats) in Pakistan has experienced fluctuations in recent times, reflecting the prevailing political and economic uncertainty and high inflation. The All-Pakistan Sarafa Gems and Jewellers Association (APSGJA) reported that the price of 24-carat gold per tola increased by Rs3,400, reaching Rs239,800. Simultaneously, the price of 10 grams of gold rose by Rs2,915, settling at Rs205,590. In the international market, the price of gold witnessed a modest increase of $7, reaching $1,945 per ounce.
Contrary to the recent increase, the previous day saw a decline in the price of gold. The price of 24-carat gold per tola dropped by Rs2,900, reaching Rs236,400, while the price of 10 grams decreased by Rs2,486, settling at Rs220,675. In the international market, the gold price experienced a hike of $21, reaching $1,938 per ounce.
The fluctuating nature of gold prices in Pakistan can be attributed to the volatile conditions and uncertainties prevailing in the country. The market is influenced by various factors such as political instability, economic challenges, and persistent inflationary pressures. As a result, gold prices continue to exhibit volatility, reflecting the ongoing uncertainties in Pakistan’s economic landscape.