Massive Increase in Gold Rate: Fifth Consecutive Surge Hits Pakistan’s Market on March 5th

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The fifth consecutive surge was witnessed in the domestic price of gold in Pakistan on Tuesday, 12 October. According to the data released by All Sindh Saraf Jewelers Association, the price of gold reached Rs. 223,900 per tola after a spike of Rs.2,700 per tola.

Data from the Karachi Sarafa Association revealed that the price of gold (24 carats) surged by Rs. 2,700 per tola to Rs. 223,900, while the price of 10 grams climbed by Rs. 2,300 to Rs. 191,958.

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During the previous week, the local price of one tola of gold increased by Rs. 5,200 while 10 grams of gold price also jumped by Rs. 4,458 per tola. On Monday, the gold increased by Rs. 900 per tola in the domestic market.

Gold prices in the international market are hovering near a three-month peak on Tuesday. The price of spot gold was flat at $2,114.59 per ounce, while the current gold rate at the time of writing in the international market stands at 2125 dollars per ounce as of 5 March 2024.

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