On Thursday, the price of gold in Pakistan increased significantly to beyond Rs. 211,000 per tola.
The price of 24 carats of gold climbed by Rs. 2,900 per tola to Rs. 211,350, while the price of 10 kilos grew by Rs. 2,486 to Rs. 181,198, according to figures issued by the All-Pakistan Gems and Jewellers Association (APGJA).
The two prior decreases, albeit little ones, were followed by the rise today. Gold dropped in value by Rs. 750 per tola on Wednesday, compared to a Rs. 400 decline on Tuesday. The cost per tola went up by Rs. 1,250 on Monday. Over the course of the current week, the price of gold has increased by a total of Rs. 3,000 per tola.
By 11:31 GMT, spot gold on the foreign market had gained 0.4 percent to $1,986.69 per ounce, while US gold futures had gained 0.1 percent to $1,996.80.
The foreign market and the parity between the rupee and the dollar have a direct impact on the local price of gold. The rupee has lost value in relation to the US dollar recently, and global gold prices have increased as well.
