In the latest update on the precious metals market, the cost of gold in Pakistan has witnessed a consistent upward trend for the third consecutive week, culminating in a settling price of Rs218,500 per tola on Wednesday.
According to data released by the All-Pakistan Gems and Jewellers Association (APGJA), the rate of 24-karat gold experienced a notable surge, increasing by Rs900 per tola, reaching the current benchmark of Rs218,500.
Simultaneously, the price for 10 grammes saw a rise of Rs771, now standing at Rs187,328.
This surge in gold prices is a continuation of the trend observed earlier in the week, when prices increased by Rs400 twice.. This cumulative rise over the week amounts to Rs1,700 per tola, following a similar trend from the previous week when the precious metal’s price escalated by Rs1,200 per tola.
Internationally, spot gold exhibited a modest 0.1 percent increase, reaching $2,042.10 per ounce as of 0729 GMT.
Concurrently, US gold futures recorded a 0.2 percent uptick, settling at $2,055.90.
These global market dynamics further contribute to the evolving landscape of gold prices, adding nuances to the economic outlook both domestically and abroad.