Gold Price 9 Feb: Tola See Major Increase in Pakistan, Crosses PKR 524,000

The price of gold is rising beyond the reach of the average consumer, as the jewelry market in Pakistan is experiencing a sharp price increase. The All Pakistan Sarafah, Gems & Jewelers Association has reported that the price of gold per tola has increased by PKR 5,300 forcing it to PKR 524,762.

Equally, the cost of 10 grams of gold went up by PKR 4,544, which stood at PKR 449,898. This sharp rise has created panic among both investors and customers at large thus rendering gold less affordable to small scale buyers.

On the international front, gold prices also rose, increasing by $53 to reach $5,020 per ounce, reflecting global market trends that are influencing local rates.

As the price of gold continues to fluctuate, analysts recommend that customers should ensure that they follow the market closely and then purchase when the time is right.