Gold prices in Pakistan saw a notable increase on Wednesday, driving the cost of 24-karat gold to Rs242,700 per tola after a minor rise of Rs2,400.
This upward trend was mirrored in the price of 10 grams of 24-karat gold, which escalated by Rs2,058 to trade at Rs208,076. The price of 10 grams of 22-karat gold also experienced an uptick, reaching Rs190,736.
Market analysts attributed these movements to the fluctuating value of the US Dollar, emphasizing the intrinsic link between currency values and gold prices. Such fluctuations underscore the significant impact of global economic factors on local gold markets, which are often susceptible to international trends.
In addition to gold, the price of 24-karat silver increased by Rs100, trading at Rs2,900 per tola. On the international front, gold prices recorded a rise of $13, reaching $2,352 per ounce, further influencing the local market sentiment.
Dealers noted that gold rates in Pakistan can vary significantly throughout the day, reflecting global market trends and economic conditions. The gold rates reported are sourced from reputable local markets, primarily based in Karachi and Multan, offering a snapshot of the latest market dynamics.