Gold Prices Soar in Pakistan as Local Market Surges
Gold prices skyrocketed in Pakistan's local market on Friday, July 31, as per data released by the All Pakistan Sarafa Gems and Jewellers Association. The price of 24-karat gold per tola increased by Rs3,000 to settle at Rs430,436.
The price hike also affected other gold variants, with 10 grams of 24-karat gold rising by Rs2,572 to Rs369,029, and 10 grams of 22-karat gold gaining Rs2,357 to reach Rs338,288. Meanwhile, the international market saw a similar trend, with gold prices climbing by $30 to $4,080 per ounce.
Silver prices also witnessed an upward trend in the local market, with the price of silver per tola increasing by Rs79 to Rs6,294, and 10 grams of silver rising by Rs68 to Rs5,396. The international silver market also followed suit, with prices increasing by $0.79 to $58.15 per ounce.
The association's data provides insight into the fluctuations in gold and silver prices in Pakistan, which can be crucial for investors and traders navigating the local market.