Gold price in Pakistan jumps Rs4,600 per tola

May 10, 2024 (MLN): Gold prices in Pakistan jumped significantly on Friday in line with the surge in international prices, with 24-karat gold gaining Rs4,600 to Rs243,800 per tola.

It is worth noting that the price has been kept Rs3,000 below its actual cost today.

"In view of the significant reduction in purchasing power, the price of gold today has been kept under cost by Rs3,000," the association said.

Last week, 24-karat gold dropped by Rs6,400 per tola, taking the cumulative loss over the past two weeks to Rs14,200 per tola or 5.63%.

The Karachi Sarafa Association further reported the price of 24-karat gold at Rs209,019 per 10-gram, up Rs3,944.

Similarly, the price of 22-karat gold was quoted higher at Rs191,601 per 10-gram.

Silver prices also rose in the domestic market, with 24-karat silver being sold at Rs2,650 per tola and Rs2,271.94 per 10-gram, a gain of Rs30 per tola and Rs25.72 per 10-gram.

On the global front, international spot gold climbed to $2,377 an ounce, up 1.31% on the day. This comes on top of a 1.61% gain yesterday.

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