Gold prices surged significantly in Pakistan on Friday, tracking strong gains in the international bullion market and pushing domestic rates to new highs.
According to the latest market figures, the price of 24-karat gold increased by Rs12,200 per tola, taking the domestic rate to Rs440,936 per tola.
Similarly, the price of 10 grams of 24-karat gold climbed by Rs10,459 to reach Rs378,031, reflecting continued volatility in the precious metals market.
Internationally, gold prices also recorded a sharp rise. The price of the yellow metal increased by $122 per ounce, reaching $4,185 in global trading. The upward movement in international markets was mirrored in Pakistan, where local gold prices are largely influenced by global bullion trends and fluctuations in the exchange rate.
Market experts say gold continues to attract investors during periods of economic uncertainty and geopolitical tensions, as it is widely regarded as a safe-haven asset. Rising international demand, inflation concerns and changing investor sentiment have contributed to the latest increase in prices.
The sharp rebound comes after recent fluctuations in both domestic and international markets, highlighting the ongoing volatility in precious metals. Analysts believe global economic developments, central bank policies and geopolitical events will remain key factors influencing gold prices in the coming weeks.
Jewellers said the latest increase may temporarily affect consumer demand in the local market, particularly for jewellery purchases, as higher prices typically discourage retail buyers. However, investment demand for gold is expected to remain steady amid uncertainty in global financial markets.
Traders have advised buyers and investors to closely monitor international price movements and currency trends before making purchasing decisions, as gold prices are expected to remain sensitive to economic and political developments worldwide.