Gold Price in Pakistan Rises for Second Consecutive Day
Islamabad: Following the trend in the international market, the price of gold in Pakistan witnessed an increase for the second consecutive day on Friday.
Based on data released by the Sindh Sarafa Jewellers Association, the price of 24-carat gold rose by Rs2,700 per tola, reaching Rs223,400, while the price per 10 grams increased by Rs2,315 to settle at Rs191,530.
In addition, the price of 22-karat gold per 10 grams increased from Rs173,447 to Rs175,569. The international market also saw a rise in gold prices, with an increase of $36, bringing the price to $1965 compared to the previous rate of $1929, as reported by the association.
Overall, the price of gold has seen an increase of Rs4,400 over the past two sessions.
The price of silver per tola increased by Rs100, closing at Rs2650, while the price of ten-gram silver rose by Rs85.73, reaching Rs2,271.94.
The gold price in Pakistan has experienced volatility recently due to ongoing political and economic uncertainty, high inflation, and currency depreciation.
Pakistan’s economy is currently facing challenges, including financial difficulties and the delay in reaching an agreement with the International Monetary Fund (IMF), which would provide crucial funding to avoid the risk of default.