The price of gold in Pakistan has reached a new peak for the third day in a row, as reported by the Karachi Sarafa Association. On Thursday, the price of 24-carat gold surged by Rs. 800 per tola, reaching Rs. 261,800. Similarly, the price for 10 grams increased by Rs. 686, bringing it to Rs. 224,451.
This marks the third consecutive day of record-breaking prices for gold in the country. On Tuesday, the price rose by Rs. 700 per tola, setting a new high of Rs. 260,700. The upward trend continued on Wednesday, with an increase of Rs. 300 per tola, pushing the price to an unprecedented Rs. 261,000.
Despite these increases, the Karachi Sarafa Association stated that the local market price of gold remains Rs. 3,000 per tola below its actual cost.
In contrast, the international market saw a slight decline in gold prices. Spot gold fell by 0.2 percent to $2,507.32 per ounce as of 1020 GMT, following a record high of $2,531.60 on Tuesday. Meanwhile, US gold futures also decreased by 0.2 percent, settling at $2,543.40.
The continued rise in gold prices in Pakistan reflects both local market dynamics and broader international trends, impacting investors and consumers alike.
