According to the All Pakistan Sarafa Gems and Jewellers Association, the price of gold per tola increased by Rs 3,000 to reach Rs 536,562.
The price of 10 grams of gold rose by Rs 2,572, bringing it to Rs 460,015.
The rise in gold prices is mainly attributed to higher international gold rates, fluctuations in the US dollar. When global prices increase , gold becomes more expensive in the local market.
Due to the continuous increase in prices, gold traders are showing a cautious and uncertain attitude. Many traders are hesitant to make large purchases because of market volatility, while some are optimistic that prices may rise further and are holding their stock in anticipation of higher profits.
sharp and unexpected surge in gold prices
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