On Friday, May 31, the price of gold in Pakistan rose by Rs. 500 to Rs. 241,700 a tola in the local market.
According to the All Sindh Sarafa Jewellers Association, the price of ten grams of 24-karat gold increased by Rs429, and it is currently being sold for Rs207,219.
These fluctuations are strongly correlated with shifts in the US dollar’s value, demonstrating the tight connection between gold prices and exchange rates. This highlights the ways in which factors associated with the global economy affect local gold markets.
