KARACHI: Gold prices in Pakistan surged on Thursday, mirroring a rise in international markets, with the price of 24-karat gold per tola climbing by Rs3,200 to reach Rs354,700.
According to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), the price of 10-gram gold also saw a sharp increase of Rs2,744, taking it to Rs304,098.
This recovery follows a decline on Wednesday, when gold prices dropped by Rs3,000 per tola, closing at Rs351,500. Today’s rebound is largely attributed to bullish trends in global markets.
Internationally, gold prices rose to $3,324 per ounce — up by $32 — with a $20 premium included, as per APGJSA data. The global rally in gold is being driven by increasing investor demand amid geopolitical tensions and economic uncertainty.
Meanwhile, silver prices also edged up. The price of silver per tola rose by Rs10 to settle at Rs3,851.
Local jewellers say that volatility in international bullion markets and fluctuations in currency exchange rates are driving local gold prices. “We are seeing rapid changes in prices both globally and domestically, which is affecting consumer sentiment,” said a Karachi-based jeweller.
The recent gains in gold come as buyers continue to hedge against inflation and currency depreciation. Analysts expect gold to remain volatile in the coming weeks amid global economic shifts and central bank policies.
