RAWALPINDI: August 16, 2023: Gold prices take upward jump in the local market as international market shows soaring trend on Wednesday. Gold has increased from last day’s $ 1901 rates to $ 1904 in international market, giving surge of Rs 1500 to take its per tola value to Rs 221000 in local market.
According to data released by Markazi Sarafa Union in Rawalpindi, the gold rates per tola for 24 carat in local market today (Wednesday) stand at Rs 22100. Since August 9, local gold was showing neutrality and there is no fluctuation in its value of the precious metal in the local market.
Likewise the gold rates per tola for 22 carat also reduced to Rs 214100. The price of 10 gram gold for 24 carat is Rs 189470 and 10 gram gold for 22 carat is being sold in the local market at Rs 183555.
The rate of a gold bar for 24 carat is Rs 223200. The rate of silver in the local market today is Rs 2800 per tola.
Gold market in Pakistan is extremely volatile. In the recent weeks, the gold rates showed unpredictable fluctuation and it has left the gold business in Pakistan in total disarray. Gold smith say the sale of gold has literally come to a halt. They argue that genuine buyers of gold have put their plan to purchase gold at hold due to rising uncertainty in its local market.
