Gold prices in Pakistan continue to fluctuate

KARACHI: The gold market in Pakistan continues to witness daily price fluctuations, with 24-karat gold priced at Rs 201,100 per tola on Wednesday October 4).

According to data from the bullion market, the price of 10 grams of 24-karat gold in Pakistan was recorded at Rs 173,870.

The international gold rate is reportedly $686.51 per tola, or approximately Rs 193,675. However, gold rates are subject to constant fluctuations, so this figure is less reliable as compared to daily listed prices in Pakistan.

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Yesterday, the price of pure 24-karat gold per tola in Pakistan stood at Rs 202,000, while 22-karat gold was available at Rs 185,167 per tola. In smaller quantities, 10 grams of 24-karat gold was priced at Rs 173,182 yesterday, with 10 grams of 22-karat gold costing Rs 158,751, as per the Tuesday’s market data.

It’s crucial to acknowledge that gold rates in Pakistan can fluctuate multiple times throughout the day in response to global market trends. Typically, the daily gold rates are released by the All Pakistan Jewelers Association. However, since September 5, the association has refrained from issuing official statement on gold rates.

This absence of official gold rates has contributed to the uncertainty faced by consumers who are now left to visit jewelry shops without clear pricing information. Customers are advised to closely monitor the gold market and exercise caution when making gold-related transactions.