Gold prices remain steady at Rs 256,500 per tola

KARACHI: The price of 24-karat gold remained unchanged on Monday, with per tola trading at Rs 256,500 in the local market, ARY News reported.

Similarly, the price of 10 grams of 24-karat gold stayed stable at Rs 219,907, and 10 grams of 22-karat gold held steady at Rs 201,582, as reported by the All Sindh Sarafa Jewellers Association.

The prices of silver also showed no change, with per tola and ten grams of silver remaining at Rs 2,850 and Rs 2,443.41, respectively.

In the international market, the price of gold saw a modest increase of $9, rising to $2,439 from the previous day’s rate of $2,430.

last week, it was anticipated that the gold price in Pakistan is likely to see further hike in the wake of a complete ban on the import of the yellow metal for the past five months.

According to the Pakistan Bureau of Statistics (PBS), no gold was imported into the country from March to July due to which jewelers are facing a shortage of the metal.

The ban on the import and subsequent shortage raised concerns about a further increase in gold prices in Pakistan.

As per the PBS, 262 kg of gold worth around US$17 million was imported in the fiscal year 2023-24; while 566 kg of gold worth over US$30 million was imported in 2022-23.