Gold price per unit (tola) ascends by Rs1,700 in Pakistan
Gold prices in Pakistan surged on Saturday, with the price per tola reaching a record high of Rs390,300. According to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), this increase represented an accumulation of Rs1,700 during the day.
The rise in the local gold market was driven primarily by expectations of lower U.S. interest rates, a weaker U.S. dollar, and high geopolitical uncertainty. No specific individual or group in Pakistan was identified as responsible for increasing the gold price domestically prior to the international market rise. The price movements seem influenced by global economic and geopolitical factors rather than a local actor in Pakistan.
The APGJSA also provided information about the international gold and silver rates. The international gold rate per ounce increased by $17 today, reaching $3,685. The international gold rate has a premium of $20. It is worth noting that no information about the previous day's international gold or silver rates was provided in this paragraph.
Silver prices in Pakistan also saw an increase, with the new silver price per tola standing at Rs4,542. This represents an increase of Rs114 today. On Friday, the silver price per tola reached Rs4,428. No information about the local gold market rates on Friday was provided in this paragraph. However, the APGJSA did report that on Friday, gold price per tola reached Rs387,500, experiencing a decline of Rs1,100 during the day.
The APGJSA did not provide any information about the local gold market rates for Saturday. However, it is clear that the gold and silver prices in Pakistan are closely tied to international market trends. As the global economy continues to navigate uncertain waters, it is likely that we will see further fluctuations in the local gold and silver markets.
Read also:
- Railway line in Bavaria threatened by unstable slope - extensive construction site at risk
- Wind Farm Controversy on the Boundary of Laois and Kilkenny
- Puerto Rico's Climate Lawfare Campaign experiences another setback with the dismissal of its deals.
- Delaware's contentious offshore wind project faces uncertainty as the Trump administration reverses course on clean energy initiatives.
%20ascends%20by%20Rs1%2C700%20in%20Pakistan){kind=link}