The price of 24-carat gold rose by Rs700 to Rs241,700 per tola while the price of 10 grams of gold increased by Rs600 to Rs207219 on Friday.
Gems and Jewelers Association said the silver price per tola is fixed at Rs2850. The price of gold per ounce increased by $22 to $2326 in the global market.
Over the past year, gold prices in Pakistan have seen significant fluctuations.
City-wise gold rates June 28, 2024
- Karachi: PKR 241,200 per tola
- Lahore: PKR 241,200 per tola
- Islamabad: PKR 241,200 per tola
- Peshawar: PKR 241,200 per tola
- Quetta: PKR 241,200 per tola
Gold Buying and Selling Trends:
Karachi: As the largest city and financial hub, Karachi sees the highest volume of gold transactions. The Sarafa Bazaar is the central market for gold trade.
Lahore: The historical city of Lahore also has a significant gold market, with high demand driven by cultural practices and weddings.
Islamabad: As the capital city, Islamabad has a steady demand for gold, with a focus on both investment and jewelry.
Peshawar: Known for its traditional bazaars, Peshawar has a vibrant gold market influenced by both local and cross-border trade.
Quetta: The gold market in Quetta is influenced by its proximity to Afghanistan and its local economic activities.
Factors Influencing Gold Prices:
International Gold Prices: Fluctuations in the international gold market directly impact local prices.
Currency Exchange Rates: The strength of the Pakistani rupee against the US dollar can affect gold prices.
Economic conditions: Inflation, political stability, and economic policies also play crucial roles in determining gold prices.
