KARACHI: Gold prices witnessed a notable increase on Saturday in both international and local markets, reflecting continued volatility in global demand and market conditions.
In the international bullion market, the price of gold rose by $21 per ounce, pushing the rate up to $4,016. Analysts attribute the rise to investor concerns over economic uncertainties, which continue to drive demand for safe-haven assets like gold.
Following the global trend, domestic gold rates in Pakistan also saw a significant hike. The price of gold per tola increased by Rs 2,100, reaching Rs 422,700 in the local market. Likewise, the price of 10 grams of gold climbed by Rs 1,800, now standing at Rs 362,397.
Market experts note that local prices are closely tied to international rates and the fluctuating value of the Pakistani rupee against the US dollar. Jewelers and traders anticipate that prices may continue to remain unstable in the short term, depending on global economic developments.
Investors are advised to keep a close watch on global indicators and currency trends, as further shifts could impact gold pricing in the coming weeks.
