Gold price in Pakistan gains over Rs2,000 per tola
Gold price increases amid depreciation of local currency against dollar
July 24, 2023
- Price of per tola gold settles at Rs225,300.
- Price of yellow metal increases by $3 in international market.
- Local currency falls by 0.39% against the greenback.
Gold price in Pakistan started the week on a positive notice, gaining over Rs2,000 per tola amid increase in the international rates and depreciation in the value of local currency.
According to data issued by All-Pakistan Sarafa Gems and Jewellers Association (APSGJA) on Monday, the price of gold (24 carats) gained Rs2,800 per tola and Rs2,143 per 10 grams to settle at Rs225,300 and Rs193,198, respectively.
Meanwhile, the price of the yellow metal increased by $3 to settle at $1,965 in the international market today.
The gold rate has been volatile in Pakistan recently amid continued political and economic uncertainty, and high inflation. People prefer to buy gold in such times as a safe investment and a hedge.
Data shared by the association showed the price of silver remained unchanged at Rs2,750 per tola and Rs2,357.68 per 10 grams, respectively.
Meanwhile, the local currency also fell by 0.39% against the greenback in the interbank market today, according to the data shared by the State Bank of Pakistan (SBP).
The rupee closed at Rs287.92 against the dollar.
