The gold price in Pakistan saw a noteworthy surge of Rs. 1,500 per tola, culminating in a closing value of Rs. 213,300. This change is significant and highlights the market for precious metals.
All-Pakistan Gems and Jewellers Association (APGJA) reports that 24-carat gold saw an increase of Rs. 1,500 per tola, bringing its value to Rs. 213,300. Furthermore, the cost of ten grams of gold increased by Rs. 1,179, totaling Rs. 182,870.
To put this into perspective, the gold price had dropped by Rs. 1,200 per tola the day before. This was followed by an increase of Rs. 900 per tola, so this most recent rise is very noteworthy.
Gold Type |
Price Per Tola (24 Carats) |
Price Per 10 Grams |
|---|---|---|
| Current Value | Rs. 213,300 | Rs. 182,870 |
| 1- Nov-2023 | Rs. 211,800 | Rs. 181,584 |
| 31-Oct-2023 | Rs. 213,000 | Rs. 182,455 |
In terms of international exchange rates, as of 4:25 PM Pakistan Standard Time, gold was trading for $1,986. This was a daily gain of 0.23 percent. The US Federal Reserve’s recent decision to keep existing interest rates until the next market review is credited by analysts as the reason for this increase.
Numerous variables may impact the gold market, and these oscillations are a reflection of the intricate dynamics at work. For those with investments in or interest in the realm of precious metals, it is imperative that they monitor these developments.