In the past week, the gold price in Pakistan witnessed a significant increase of Rs. 6,350 per tola. This change in the price of gold has sparked the interest of many as it plays a crucial role in various aspects of our lives, from investment decisions to cultural traditions.
The All-Pakistan Gems and Jewellers Association (APGJA) has been diligently monitoring these price fluctuations. According to their data, the price of 24-carat gold experienced a decrease of Rs. 150 per tola, bringing it to Rs. 208,350. Similarly, the price of 10 grams of gold decreased by Rs. 129 to reach Rs. 178,626 on a Saturday.
As the week neared its end, gold prices saw a notable surge of Rs. 2,200 per tola on Friday. Despite a minor decrease on Saturday, the cumulative effect shows a substantial increase of Rs. 6,350 per tola throughout the week.
It’s important to note that gold traders in Pakistan have implemented a new pricing formula based on interbank trading. This formula includes a premium of $20 on international prices, using the interbank rate of the US dollar for price calculations.
As gold continues to play a significant role in Pakistan’s economy and culture, these price fluctuations are closely followed by both investors and the general public.