Gold prices in Pakistan rose sharply on Saturday, following gains in the global market. The price per tola climbed by Rs1,700, reaching Rs390,300 in the local market, according to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA). Similarly, the price of 10 grams of gold increased by Rs1,458 to Rs334,619.
On Friday, gold prices had fallen by Rs1,100 to Rs387,500 per tola, but the trend reversed on Saturday amid rising international rates. The global price of gold increased by $17 to $3,685 per ounce, with a $20 premium factored in, as reported by APGJSA.
Silver prices also moved upward, with the price per tola rising by Rs114 to Rs4,542. This increase in precious metal prices reflects broader market trends influenced by international demand and currency fluctuations.
Market watchers say that investors are closely monitoring gold and silver rates due to economic uncertainties and currency pressures. The recent spike indicates growing interest in safe-haven assets amid global financial volatility.
Buyers and sellers are advised to stay updated with market trends, as prices are expected to remain volatile in the near term due to ongoing shifts in international markets and domestic economic factors.