Gold prices rise again across Pakistan

KARACHI: The gold prices in Pakistan have surged once more here on Friday, according to the All Pakistan Gems and Jewellers Association.

The price of 24-karat gold increased by Rs2, 500 per tola, reaching Rs386, 500 per tola. Similarly, the price of 10 grams of gold rose by Rs2, 143, now standing at Rs331, 361.

In the international market, gold gained $27 per ounce, climbing to $3,645 per ounce.

Earlier, gold prices in Pakistan reached historic high amid upward trend in international market on September 07, 20225.

According to the Saraffa Association, the price of 24-karat gold per tola stood at 377,900 after gaining massive Rs6,000 while the rate for 10 grams stood at Rs322,959.

Gold is a valuable commodity widely traded in global markets. Known for its rarity and durability, gold has been used for centuries as a store of value and hedge against inflation. It is traded in various forms, including physical bullion, futures contracts, and exchange-traded funds (ETFs).

Investors often turn to gold during economic uncertainty, as it tends to retain value when other assets decline. Major trading centers include London, New York, and Shanghai. Gold prices are influenced by factors like interest rates, currency strength, and geopolitical events, making it a crucial component of diversified investment portfolios.