The local exchange markets have also seen an increase in the price of gold.

The local exchange markets have also seen an increase in the price of gold. The price of gold per tola at the beginning of December was Rs. It is planned that gold will continue to be expensive.

Why is the local market for gold more expensive than the global market?In the meantime, the price of one ounce of gold has increased by 68 dollars this month when looking at the global market. According to sources from exchange markets, the price of gold on the local market has increased more this month than the price of gold on the global market. This is because the value of the US dollar has increased in comparison to the Pakistani rupee. Rather than the interbank or open currency markets, the rise in gold prices is worryingly caused by the dollar's value on the black market.The dollar's value has only increased by three rupees this month on the open currency market. The dollar was worth 231 rupees on December 1 and is right now worth 234 rupees. Be that as it may, the dollar has arrived at 250 rupees on the bootleg market, and the gold not set in stone by the bootleg market.

In Pakistan, how much should gold cost?The price of gold on the global market on December 20 was 1808 dollars per ounce, or 234 rupees multiplied by the local currency market's dollar price. The result is the same if we compare this price to the dollar rate on the local currency market. As a result, one ounce of gold costs 423,072 Indian rupees. When this amount is divided by 31.1, the price of one gram of gold is 13 thousand 603 rupees, or 11.664 grams. Divide the cost of one gram by 11.664. As a result, one tola of gold costs one lakh, 58,672 rupees; On the other hand, one tola of gold costs 1 lakh 78 thousa on the local market, which is 20 000 128 rupees more than 1 lakh 58 000 672 rupees. This indicates that the open currency market's gold price increased by 234 rupees, or approximately 260 rupees, while the black market's gold price increased by more than 250 rupees.

In light of the country's current economic situation, jewelers claim that investors are transferring their capital in gold or dollars. However, the trend toward investing in gold has increased due to the difficulty of purchasing dollars, which has resulted in price increases. are rapidly expanding.Additionally, gold is being purchased in place of jewelry for 800 rupees, according to sources. On the other hand, people who want to make jewelry for their weddings are experiencing a great deal of mental anguish as a result of this situation, and jewelry makers are also weeping because they aren't getting enough customers.