Karachi: The price of gold in Pakistan witnessed a sharp increase today, reversing the previous day’s decline and highlighting the ongoing volatility in the bullion market. According to the All Pakistan Gems and Jewellers Association, the price of one tola (approximately 11.66 grams) of gold surged by Rs3,500, bringing the new price to Rs351,000.
Similarly, the price of 10 grams of gold increased by Rs3,000, reaching Rs300,925. This dramatic rise came just a day after gold prices had dropped by Rs1,900, when the rate per tola stood at Rs347,500.
In the international market, gold also saw a considerable hike of $35 per ounce, pushing the global rate to $3,326 per ounce. Analysts attribute the rebound to rising global uncertainty, fluctuating currency values, and increased investor demand for safe-haven assets like gold.
The rapid price movement underscores the sensitivity of the gold market to both domestic economic conditions and international trends. Jewellers and investors alike are bracing for further fluctuations, particularly as budget announcements and geopolitical factors continue to influence the market.