In Pakistan, the price of gold has seen a sharp increase, the price of one tola of gold has increased by one hundred rupees. 273,400 to reach Rs.2,100.
The price of 10 grams of gold also increased by Rs. 1,800, bringing it to Rs.234,396.
The price of gold in the international market increased by 21 dollars to 2622 dollars per ounce. Meanwhile, silver price per tola remained steady at Rs. 3,350 per tola
Earlier, the price of 24 carat gold fell by Rs 2,600 per tola and was sold at Rs 273,300 on Thursday, December 19, 2024, compared to Rs 275,900 on the previous business day, All Sindh Sarafa Jewelers Association reported.
The price of 10 grams of 24 karat gold also decreased by Rs 2229 to Rs 234,311 from Rs 236,540, while the price of 10 grams of 22 karat gold also decreased to Rs 214,785 from Rs 216,828.
The price of silver per tola decreased by 50 rupees to 3 thousand 350 rupees, while the price of ten grams of silver decreased by 42 rupees 87 paise to 3 thousand 350 rupees. 2,872.08.
The association reported that the price of gold in the international market decreased from 2647 dollars to 2621 dollars.
Gold, recognized as a highly valued precious metal, has been of considerable importance for centuries and is integral to the global economy. Its value derives from its rarity, flexibility, and universal appeal. Often seen as a safe haven asset, gold is used to protect wealth during times of economic uncertainty.
Central banks and investors hold gold reserves to diversify their investment portfolios and protect against inflation and currency fluctuations.
Gold’s intrinsic appeal and limited supply make it a highly desirable material for jewelry and luxury goods. Demand for gold jewelery boosts economic activity in the mining, manufacturing and retail industries.