Gold price hiked by Rs62,500 to Rs249,700 in four months of 2024

Domestic gold prices continued their record-breaking spree as one-tola on Tuesday hit a fresh peak of Rs249,700 after adding Rs2,400, according to data provided by the All Pakistan Sarafa Gems and Jewellers Association (APSGJA).

The rate of gold increased by Rs2,057 per 10 grams to reach Rs214,077, APSGJA said.

The APSGJA quoted a jump of $8 to $2,371 per ounce on the world markets.

It is pertinent to mention here that the local gold market witnessed a surge of Rs1900 and 1,629, leading yellow metal to Rs247,600 one-tola and Rs212,277 10-gram, respectively, on April 9. 

However, a decline of Rs1,100 gave a little relief to consumers when yellow metal plunged to Rs246,500 on April 13. 

The precious metal was hiked by Rs62,500 per tola and Rs53,583 per 10-gram, respectively, in just four months of the ongoing year.

On January 1, the rates for one-tola and 10 grams were Rs187,200 and Rs160,494 in the local market, respectively.