Gold prices in Pakistan jumped sharply on Friday, rising Rs10,700 per tola to Rs454,262. The increase followed a global rise in gold rates, reflecting strong demand in international markets. Silver prices also edged higher, gaining Rs232 to reach Rs6,684 per tola.
In local trading, 10-gram gold sold for Rs389,456 after a gain of Rs9,174, according to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA). On Thursday, gold per tola had increased by Rs500 to Rs443,562, showing a steady upward trend this week.
Read more: Gold gains Rs500, silver hits record high
The international gold rate rose $107 to $4,319 per ounce, with a $20 premium, driving the surge in domestic prices. Analysts said global market movements, currency fluctuations, and investor demand contributed to the sharp gains in Pakistan.
Traders and investors reacted positively to the price jump, with many buying gold as a safe-haven asset amid market uncertainties. Jewelry demand also picked up as prices spiked, though some retailers warned that further rises could affect consumer purchases.
Read more: Gold price drops by Rs 1,200 a tola
Market watchers expect gold and silver to remain volatile in the near term, influenced by international trends, currency shifts, and economic developments. Investors are advised to monitor global rates before making major purchases.