RAWALPINDI: May 30, 2023: Gold recovered after one day dip as it gained Rs 1500 in its prices on May 31.
According to Markazi Sarafa Unon , the gold prices increased by Rs 1500 per tola in the local market on third day of the current week. The gold price per tola for 24 carat in Rawalpindi is recorded at Rs 230000 from its last day’s value of Rs 228500.
The price of one tola gold for 22 carat also reduced by Rs 1400 per tola. The price of one tola gold for 22 carat today is recorded at Rs 222800 against its last day’s rates of Rs 221400 . The rate of 10n gram gold for 24 carat is Rs 197190 and the price of 10 gram gold for 22 carat is Rs 191015. The price of one tola gold (bar) today is Rs 232500 . Silver price today per tola in the local market was recorded at Rs 3150 in the local market. 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.
