KARACHI:The price of gold in Pakistan has experienced a significant increase, marking a record rise. According to the All Pakistan Gems & Jewelry Traders & Exporters Association, the price of gold per tola has risen by Rs11,200, bringing the current rate to Rs4,65,236.
The association also reported that the price of 10 grams of gold has increased by Rs9,602, reaching Rs3,98,864.
Meanwhile, in the international market, gold prices have climbed by $112, with the current rate at $4,427 per ounce.
This latest spike follows a decline of Rs33,000 over the past seven days. Today marks the eighth consecutive day of rising gold prices.
Investors in global financial markets are closely watching the upcoming U.S. Non-Farm Payroll data, scheduled to be released on September 4.
Earlier in July, concerns over rising unemployment, with approximately 25,000 jobs lost, contributed to an increase in gold prices. However, comments from Federal Reserve Chair Jerome Powell over the past week have tempered this trend, leading to a decline in gold’s value over the last seven days.
