KARACHI: A single tola of 24-karat gold in Pakistan was being traded for Rs113,300 at the start of trading on Wednesday, with the price of the precious metal having increased by Rs800 the previous day.
For those wishing to buy in smaller amounts, 10 grams of 24-karat gold currently cost Rs160,751, while 10 grams of 22-karat gold cost Rs147,355.
It’s interesting to observe that Pakistan’s pure gold value has been steadily declining.
It is important to note that Pakistani gold prices are subject to daily fluctuations based on worldwide market trends. These prices are taken from trustworthy sources, mostly located in Karachi and Multan.
But since September 12, 2023, the official gold rates—which are normally updated on a daily basis—have not been made available by the All Pakistan Jewelers Association.
On the other hand, the federal Ministry of Industries has released a notification and established a 15-member advisory board in an effort to increase transparency in the gold trade and foster the growth of the gold sector.
Haji Haroon Chandko, a prominent gold merchant, is not a member of the council, though.
Those who keep a close eye on the gold market are encouraged to be alert as rates continue to adjust in response to changes in the global gold market.
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