In Karachi, Pakistan, the price of one tola of 24-karat gold stood at Rs 218,100 on Wednesday. Similarly, 10 grams of 24k gold were priced at Rs 186,990.
In addition, 10 grams of 22k gold were being traded at Rs 171,324, while a single tola of 22-karat gold was being sold for Rs 199,832.
Officially, the bullion trade has been suspended for nearly a week as negotiations between the gold association and authorities are ongoing to devise a plan to address speculation and arbitrary actions.
However, the association accuses speculators of disregarding the official decision to suspend trade, as they continue to update gold rates regularly, causing confusion in bullion markets across the country.
Sources indicate that the city’s bullion market has set the rate for gold per tola at Rs 218,500, while the official value for gold is Rs 215,000.