Gold prices rise in Pakistan as international rates surge

Gold prices rise in Pakistan after increase in global market

Gold prices in Pakistan recorded a sharp increase on Friday, following a rise in the international market. The upward trend pushed local rates to new levels as both per tola and 10-gram gold prices saw significant gains during the day, according to official market data shared by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA).

In the local market, the price of gold per tola reached Rs440,936, after an increase of Rs12,200 in a single day. Similarly, the price of 10-gram gold rose to Rs378,031, marking an increase of Rs10,459, as per the latest figures.

A day earlier, on Thursday, the gold price per tola had stood at Rs428,736, after it had already gained Rs9,100 during that session. The continuous upward movement reflects a strong rally in gold prices over consecutive trading days.

The increase in local gold rates comes in line with a notable rise in the international market. Globally, the price of gold increased by $122 per ounce, reaching $4,185 per ounce, with a reported premium of $20. The international surge directly influenced domestic pricing in Pakistan.

Alongside gold, silver prices also witnessed an upward movement in the local market. The price of silver increased by Rs319 per tola, reaching Rs6,764 per tola during the day.

Market experts and traders continue to closely monitor international developments, as fluctuations in global bullion prices directly impact domestic rates in Pakistan. The recent increase highlights the sensitivity of local markets to global economic trends and currency movements.

Gold and silver remain among the most closely tracked commodities in Pakistan, with daily price changes affecting jewellers, investors, and consumers across the country. The latest surge adds further pressure on buyers as rates continue to move upward.
(source:brecorder)