KARACHI: Gold prices witnessed a significant surge in Pakistan on Friday, mirroring a strong rally in the international bullion market. The sharp rise pushed the local price of gold up by Rs12,200 per tola, while global bullion prices climbed by $122 per ounce, reflecting renewed investor demand for safe-haven assets amid uncertainty in international markets.
According to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), the price of 24-karat gold per tola increased to Rs440,936, marking one of the biggest single-day gains in recent weeks. The price of 10 grams of gold also jumped by Rs10,459, reaching Rs378,031.
In the international bullion market, gold prices rose sharply by $122 per ounce, taking the global rate to $4,185 per ounce. The rally follows continued market volatility, geopolitical uncertainty, and expectations that investors will continue shifting toward precious metals as a hedge against inflation and economic risks.
Silver prices also followed the upward trend in both domestic and global markets. In Pakistan, the price of silver per tola increased by Rs319 to Rs6,764, while the price of 10 grams climbed by Rs274 to Rs5,799.
The latest increase comes just a day after gold had already posted strong gains following five consecutive trading sessions of mixed performance. On Thursday, international gold prices rose by $91 per ounce to $4,063, while the domestic price of gold per tola increased by Rs9,100 to Rs428,736. The price of 10 grams of gold also climbed by Rs7,802 to Rs367,572.
Silver also strengthened during Thursday’s trading session, with the per-tola price increasing by Rs203 to Rs6,445, while the price of 10 grams rose by Rs174 to Rs5,525.
The recent rally follows a volatile trading week in which precious metals experienced sharp fluctuations. On Wednesday, gold prices had declined in both international and domestic markets. The international bullion rate fell by $52 per ounce to $3,972, while the local price of gold per tola dropped by Rs5,200 to Rs419,636. The price of 10 grams also slipped by Rs4,458 to Rs359,770.
Silver prices also moved lower on Wednesday, with the per-tola rate declining by Rs107 to Rs6,242, while 10 grams fell by Rs92 to Rs5,351.
Earlier in the week, Tuesday also saw losses in gold prices despite gains in silver. The international gold price decreased by $41 per ounce to $4,024, while Pakistan's local gold rate dropped by Rs4,100 per tola to Rs424,836. The price of 10 grams of gold declined by Rs3,515 to Rs364,228.
In contrast, silver prices moved higher on Tuesday. The price per tola rose by Rs25 to Rs6,349, while 10 grams gained Rs22 to reach Rs5,443.
Monday also recorded a decline in gold prices as international markets reacted to geopolitical tensions and changing economic expectations. The domestic price of gold per tola fell by Rs2,300 to Rs428,936, while the price of 10 grams declined by Rs1,972 to Rs367,743. Silver prices also eased by Rs69 to Rs6,324 per tola.
The latest rally has more than erased the losses recorded earlier in the week, taking gold prices to fresh record highs in both local and international markets. Analysts attribute the strong rebound to increased safe-haven buying, uncertainty surrounding global economic growth, and investor concerns over inflation and monetary policy.
Market experts believe that gold will likely remain volatile in the coming days as investors closely monitor geopolitical developments, central bank policies, and global inflation trends. Any further rise in international bullion prices is expected to directly impact Pakistan's domestic market, where local rates closely track global movements along with fluctuations in the rupee-dollar exchange rate.
With gold reaching Rs440,936 per tola, buyers and investors are expected to remain cautious, while jewellers anticipate continued volatility until global market conditions stabilize.
