Gold prices in Pakistan recorded a sharp jump on Tuesday as rates followed the rising trend in the international market, according to figures shared by the All Pakistan Gems and Jewellers Sarafa Association.
The price of 24-karat gold per tola went up by Rs 7,700, reaching Rs 436,562, while 10 grams of 24-karat gold increased by Rs 6,601 to Rs 374,281. Rates for 10 grams of 22-karat gold also climbed to Rs 343,103.
Globally, gold gained US$77 and touched $ 4,142 per ounce. Silver prices rose as well, with per tola silver moving up to Rs 5,422 and 10 grams reaching Rs 4,648, while international silver hit $ 51.50 per ounce.
Meanwhile, the government has provided conditional permission for gold imports, offering relief to the jewelry sector. The Ministry of Commerce issued a notification stating that gold jewelry made from imported gold must be exported within 120 days.
The ban on gold imports has been eased only for finished products, and the suspended SRO linked to the global trade of gold has been restored. Updated rules for importing and exporting precious metals and jewelry will continue under the existing framework.