Gold prices in Pakistan continued their upward trajectory on Friday, marking the fifth consecutive day of increases this week.
According to the All-Sindh Sarafa Jewellers Association, the price of 24-carat gold rose by Rs. 2,500 per tola, reaching Rs. 280,500. Meanwhile, the price for 10 grams saw a rise of Rs. 2,143, reaching Rs. 240,483.
After a significant dip of over Rs. 10,000 per tola last week, gold has been on a steady recovery this week. The price jumped by Rs. 2,500 per tola on Monday, followed by a rise of Rs. 3,600 per tola on Tuesday. On Wednesday, gold prices increased by Rs. 800 per tola, and yesterday, it gained an additional Rs. 3,700 per tola.
With today’s rise, the cumulative gains for the week now exceed Rs. 13,100 per tola. Gold is now approaching its all-time high of Rs. 287,900 per tola, set last week.
In the global market, gold prices also saw a positive trend, rising 1 percent. Spot gold was trading at $2,696.76 per ounce as of 08:00 GMT, marking the best week for gold in a year. Meanwhile, US gold futures gained 0.9 percent, reaching $2,699.30.
As gold prices continue to surge, market experts are closely monitoring further fluctuations in both local and international markets.
