Gold rates witness massive hike in Pakistan

ISLAMABAD: The price of 24 karat per tola gold increased further by Rs.3,700 and was sold at Rs.278,000 on Thursday against its sale at Rs.274,300, All Sindh Sarafa Jewellers Association reported.

The price of 10 grams of 24 karat gold also went up by Rs.3,172 to Rs.238,340 from Rs. 235,168 whereas that of 10 gram 22 karat gold increased to Rs.218,479 from Rs. 215,570.

The price of per tola silver increased by Rs.200 to Rs.3,450 whereas that of ten gram silver increased by Rs.171.47 to Rs.2,957.

The price of gold in the international market increased by $37 to $2,668 from $2,631, the Association reported.

On the other hand, the imports of gold increased by 19.82 per cent during the first four months of the current fiscal year as compared to the corresponding period of last year, the Pakistan Bureau of Statistics (PBS) reported.

The gold imports during July-October (2024-25) were recorded at $10.644 million as compared to the imports of $8.883 million during July-October (2022-23), according to PBS data.

Also read: Gold imports increase by 19.82pc in 4 months

In terms of quantity, Pakistan imported 148 kilograms of gold during the period under review as compared to the imports of 138 kilograms last year, showing increase of 6.94 per cent.

On year-on-year basis, the yellow metal imports increased by 32.32 per cent in October as compared to the same month of last year. The gold imports during October 2024 were recorded at $2.096 million compared to imports of $1.584 million in October 2023.

Read more: Gold gains for third straight day

In terms of quantity, the gold imports declined by 9.29 per cent to 24 kilograms in October 2024 as compared to the imports of 26 kilogram during October 2023.

On a month-on-month basis, the gold imports during October 2024 decreased by 54.63 percent when compared to the imports of $4.610 million in September 2024.