Gold Prices in Pakistan Reach Highest Point in 2 Months Following a Surge of Rs. 3,100 per Tola

The price of gold in Pakistan continued its upward trajectory on Monday, marking an impressive increase of over Rs. 3,000 per tola.

Data released by the All-Pakistan Sarafa Gems and Jewellers Association (APSGJA) reveals that the price of 24-carat gold rose by Rs. 3,100 per tola, reaching Rs. 229,900. Additionally, the price of 10 grams experienced a hike of Rs. 2,658, settling at Rs. 197,102.

While the value of this precious metal has shown consistent growth over the past week, today’s increase stands out as one of the most significant single-day rises in recent memory. The price of gold climbed steadily for five consecutive days last week, accumulating a total surge of Rs. 5,000 per tola.

The present gold price marks the highest level seen in over two months. It’s noteworthy that the value of gold had dropped to Rs. 204,000 per tola around mid-July, following a peak of Rs. 240,000 per tola reached back in May.

On the global stage, gold is currently trading close to a five-month low. As of 1125 GMT today, spot gold remained relatively stable at $1,888.60 per ounce, while US gold futures recorded a minor increase of 0.1 percent, reaching $1,918.10.