In Pakistan, the price of gold experienced significant fluctuations throughout the week, ultimately surging by Rs. 2,000 per tola on Saturday, closing at a rate of over Rs. 213,000. This surge was reported by the All-Pakistan Gems and Jewellers Association (APGJA). The data from APGJA revealed that the price of 24-carat gold had risen by Rs. 2,000 per tola to reach Rs. 213,300, while the price of 10 grams increased by Rs. 1,714, reaching Rs. 182,000.
The week was a rollercoaster for gold enthusiasts. It began with a rise of Rs. 1,250 per tola on Monday, followed by drops of Rs. 750 and Rs. 400 on Tuesday and Wednesday, respectively. Thursday saw a significant increase of Rs. 2,900 per tola, but prices dropped by Rs. 50 on Friday. Altogether, this means the price of gold increased by Rs. 4,950 per tola over the week.
Notably, this surge is part of a two-week trend, as the previous week witnessed a staggering increase of Rs. 6,350 per tola. Consequently, in just two weeks, gold prices in Pakistan rose by a total of Rs. 11,300 per tola. This increase in gold prices has financial implications and has captured the attention of both investors and the general public, with the market witnessing significant volatility. Gold continues to be an essential indicator of economic stability and investor sentiment, making these price fluctuations a significant topic of discussion in Pakistan.