Gold prices in Pakistan saw a significant surge for the second day in a row, culminating in a closing rate of Rs. 219,000 per tola on Wednesday.
Data from the All-Pakistan Sarafa Gems and Jewellers Association (APSGJA) revealed that the price of 24-carat gold increased by Rs. 4,000 per tola, reaching Rs. 219,000, while the rate for 10 grams climbed by Rs. 4,030, ultimately settling at Rs. 188,615.
Last week, gold prices experienced an unprecedented weekly decline, plummeting by a staggering Rs. 27,800 per tola. However, at the onset of the current week, the price of gold rebounded with a notable increase of Rs. 2,600 per tola. Furthermore, on Tuesday, gold prices surged by an impressive Rs. 5,600 per tola. The combined effect of these two days’ gains amounts to a remarkable Rs. 9,600 per tola increase.
Meanwhile, in the global market, spot gold remained relatively stable at $1,912.86 per ounce as of 1305 GMT, and US gold futures also held steady at $1,935.40 per ounce.