Gold and silver prices saw a sharp increase in the local market on Saturday, with strong upward movement influenced by international trends. The rise brought both commodities to new highs, impacting buyers and investors alike.
According to the All Pakistan Sarafa Gems and Jewellers Association, the price of 24-karat gold per tola surged by Rs2,800, settling at Rs390,300 compared to Rs387,500 a day earlier. This sharp jump has once again pushed gold into record territory.
Read more : Gold price surges by Rs1,700 per tola in Pakistan – Daily Times
Similarly, the rate of 10 grams of 24-karat gold climbed by Rs1,458, now available at Rs334,619 against Rs333,161 the previous day. Prices of 10 grams of 22-karat gold also advanced by Rs1,337, reaching Rs306,745 from Rs305,408.
The international bullion market also reflected strong momentum as gold prices rose by $17 per ounce, closing at $3,685 compared to $3,668 recorded a day before. This upward global trend supported the domestic surge.
Silver too witnessed a similar rally, with the price of 24-karat silver per tola increasing by Rs114 to reach Rs4,532 compared to Rs4,418 on Friday. Ten grams of silver also gained Rs98, now priced at Rs3,885 versus Rs3,787 earlier.
On the global front, silver prices rose sharply by $1.14 per ounce, settling at $43.05 compared to $41.91 previously. Analysts believe that ongoing economic uncertainties and safe-haven demand continue to drive both gold and silver higher.