Gold Rate in Pakistan Today August 12, 2024

Gold prices in Pakistan remained unchanged on Monday, with the per tola rate steady at Rs256,500, and 10-gram gold priced at Rs219,907, according to the All Pakistan Gems and Jewellers Association.

Despite a $9 drop in the international market, bringing gold to $2,439 per ounce, domestic prices held firm. Similarly, silver prices in Pakistan also stayed constant, with per tola at Rs2,950 and 10-gram at Rs2,443.41.

The stability in local gold prices comes amid a five-month suspension of gold imports in Pakistan, which could lead to a potential increase in prices in the near future. Before the suspension, Pakistan imported 40 to 50 kilograms of gold monthly. In the fiscal year 2023-24, the country imported 262 kilograms of gold worth $20 million, a 44.43% decrease compared to the previous year.

The ongoing halt in gold imports, for undisclosed reasons, may push prices higher in the coming days.