KARACHI: The price of gold in Pakistan has once again increased significantly. Gold per tola in the local bullion market has become expensive by Rs 4,300, after which the new price has been set at Rs 441,636.
According to data released by the All Pakistan Bullion Gems and Jewellers Association, the price of 10 grams of gold has also increased by Rs 3,686. After this increase, 10 grams of gold were sold for Rs 378,631.
This increase in gold prices has come at a time when the price in the local market had decreased by Rs 800 per tola yesterday. Thus, after a day of decline, the prices of the precious metal have seen a rebound.
The trend of the global market has also been with an increase in local prices. The international price of gold rose by $43 to $4,191 per ounce. The change in the global rate also has a direct impact on the local bullion market.
Due to the continuous fluctuation in the price of gold, daily rates have become important for buyers. Consumers, especially those buying jewellery, have to look at both the global rate and the local market trend while setting the price in the local market.
On the other hand, from an investment perspective, the rise in the price of gold indicates the current direction of the market; however, it is not possible to make a final assessment of future prices based on just one day’s increase or decrease.
After today’s increase in the local bullion market, the price of gold per tola has reached a new level of Rs. 441,636. Due to the increase in the price in the global market as well, the upward pressure on local rates continued.
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