RAWALPINDI: May 8, 2023: Gold has set yet another record in the local market . The precious metal price jumped up to Rs 22300 a tola in local market for 24 carat today. Its price jumped up by Rs 1000 per tola in the local market over the last day’s rate. Gold trade at Rs 223000 per tola for 24 carat on Monday.
According to Markazi Sarafa Union Rawalpindi, the price of one tola gold for 22 carat also jumped up to Rs 216000 . Its price on last day of the previous week was recorded at Rs22200. The rate of 10n gram gold for 24 carat is Rs 191185 and the price of 10 gram gold for 22 carat is Rs 185185 . The price of one tola gold (bar) today is Rs 225000 . Silver price today per tola in the local market was recorded at Rs 2900. It showed an increase of Rs 100 per tola in the local market.
Gold market of Pakistan is bullish for the last couple of months for two reasons. One- devaluation of the rupee and the second-surge of the value of gold in international market. In Pakistan market , the buyers of gold are facing double-edged disadvantage . They are fast losing their buying power as a result of unprecedented inflation and at the same time this precious metal is becoming costlier for them due to uncontrollable downfall trend in the value of the local currency against US dollar. Uncertainty in currency market is impacting directly to the gold market and its only loser is potential buyer of gold.