Karachi: The price of gold in Pakistan has increased once again, after which the price per tola crossed the mark of Rs 440,000.
According to the All Pakistan Sarafa Gems and Jewellers Association, gold has become more expensive by Rs 2,000 per tola. After this increase, the new price was set at Rs 440,636.
The price of 10 grams of gold also increased. After increasing by Rs 1,715, the price has reached Rs 377,774.
This change in the local market came after the rising prices of gold at the global level. According to the association, the price of gold per ounce in the international market has increased from $20 to $4,181.
The movement in the price of gold in the global market also affects the gold market in Pakistan. However, local prices are not determined only by the global price. The value of the rupee, local demand and market conditions also cause changes in prices.
After the latest increase, consumers buying jewellery will have to spend more money than before. On the other hand, the direction of the global market has also become important for people holding gold as an investment.
Due to the continuous fluctuations in the price of the precious metal, the attention of buyers is focused on the daily gold exchange rate. If the global price changes further, its effects can also be seen in the local market.
We welcome your contributions to The Pakistan Observer. Submit your blogs, opinion pieces, press releases and news features to our editorial team.
Please send your submissions to our News Desk or Editorial team. We look forward to hearing from writers, journalists and contributors.
