Gold price jumps to Rs422,462 per tola in Pakistan

KARACHI: Gold prices in Pakistan’s local market fell on Saturday due to a decline in global rates.

According to data shared by the All Pakistan Gems and Jewelers Association, the price of gold per tola fell by Rs 600 to Rs 422,462.

Similarly, the price of 10 grams of gold fell by Rs 514 to Rs 362,193.

A slight decline was also seen in the price of precious metals in the international market, where the rate per ounce fell by $ 6 to $ 4,001.

A day earlier, due to stability in the global market, there was no change in the price of gold in Pakistan.

Meanwhile, the Punjab government has approved the implementation of the QR code system for retailers under its digital economy strategy.

According to a spokesperson, the new cashless system is designed to promote financial inclusion, increase transaction transparency and reduce dependence on cash payments.

The QR code system will be integrated with banking networks and digital payment platforms, allowing small businesses to accept payments without the need for cash. The move aims to make digital transactions safer, faster, and more cost-effective, benefiting both retailers and consumers.

The Punjab cabinet has hailed the move as a significant step towards “Digital Pakistan”, and stressed its potential to revolutionize the way transactions are conducted in the province. The system will not only help small traders but also encourage widespread adoption of digital financial services.