Karachi, August 10, 2023 – Gold rates in Pakistan experienced a noteworthy uptick on Thursday, with a rise of Rs 600 attributed to a combination of factors including the depreciation of the rupee value and a slight easing in international gold prices.
READ MORE: Gold Prices in Pakistan Rise Despite Rupee’s Rebound
The price of 24 karat gold per tola surged by Rs 600, concluding the day at Rs 222,800 in the local market. In parallel, the rate for 24 karat gold per 10 grams also registered an increase, rising by Rs 514 and closing at Rs 191,015.
Concurrently, in the international markets, the price of gold dipped by $4, settling at $1,922 per ounce. In terms of currency exchange, the Pakistani Rupee (PKR) experienced a minor decline of 14 paisas, reaching a closing value of PKR 287.60 against the US dollar in the interbank foreign exchange market.
READ MORE: Gold Prices in Pakistan Decline to Rs 221,100 per Tola
It’s essential to recognize that the exchange rate and international market prices play a direct and influential role in shaping the prices of precious metals like gold within Pakistan.
This development in gold rates underscores the dynamic nature of the global economy and its impact on local markets, with various factors contributing to the fluctuations in the prices of this valuable commodity. Investors and consumers alike closely monitor these changes, as they can have significant implications for economic decisions and financial planning.
