The price of gold in Pakistan witnessed a notable surge for the third consecutive day, reaching Rs. 226,400 per tola at the closing on Wednesday.
Impressive Increase in Gold Rates
According to the data released by All-Pakistan Sarafa Gems and Jewellers Association (APSGJA), the price of 24-carat gold surged by a substantial Rs. 5,400 per tola, settling at Rs. 226,400. Meanwhile, the price of 10 grams of gold also experienced a significant increase of Rs. 4,630, closing at Rs. 194,102.
Week-Long Rally
The gold market commenced the week with a modest rise of Rs. 1,600 per tola, followed by a substantial increase of Rs. 6,200 per tola on Tuesday. With today’s surge, the cumulative increment in the price of the precious metal stands at an impressive Rs. 13,200 per tola.
Recovery from Recent Lows
After hitting a low of Rs. 204,000 per tola on July 12, the price of gold has made an impressive recovery, gaining a remarkable Rs. 22,400 per tola.
Global Market Trends
In the international market, spot gold experienced a slight dip of 0.1 percent, reaching $1,977.63 per ounce at 0821 GMT. However, US gold futures saw a minor increase of 0.1 percent, settling at $1,981.70.
