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Gold Prices Steady in Pakistan Post-Surge

Gold Prices Steady in Pakistan Post-Surge

After a significant increase of nearly Rs. 2,500 per tola on Thursday, gold prices in Pakistan remained stable on Friday.

Data from the Karachi Sarafa Association indicated that the price of 24-carat gold held steady at Rs. 240,600 per tola, while the price for 10 grams stayed at Rs. 208,333.

Read more: Gold prices in Pakistan have experienced a slight decline

The Sarafa Association noted that the gold price has been kept below cost by Rs. 4,000 due to a decrease in buyers’ purchasing power.

Earlier in the week, gold prices in the local market were unchanged on Monday, increased by Rs. 700 per tola on Tuesday, then dropped by Rs. 400 per tola on Wednesday, before surging by Rs. 2,400 per tola on Thursday.

Meanwhile, in the international market, spot gold decreased by 1.8 percent to $2,333.69 per ounce as of 1123 GMT.