ISLAMABAD – Gold prices in Pakistan saw a significant increase on Friday, reflecting trends in the international market. According to the All Pakistan Sarafa Gems and Jewellers Association, the price of 24 karat gold rose by Rs2,500 per tola, reaching Rs386,500 from the previous Rs384,000.
Similarly, 10 grams of 24 karat gold increased by Rs2,143 to Rs331,361, up from Rs329,218. The price of 10 grams of 22 karat gold also climbed by Rs1,964, reaching Rs303,758 compared to Rs301,794 on the previous day. Experts attribute this rise to fluctuations in global gold markets and growing investor demand.
In the international market, gold gained $27, closing at $3,645 per ounce against $3,618 previously. Analysts suggest that global economic uncertainty and currency fluctuations have contributed to the upward momentum in gold prices both locally and abroad.
The domestic silver market also recorded gains. The rate of 24 karat silver increased by Rs130 per tola, closing at Rs4,456, while 10 grams of silver rose by Rs112 to Rs3,820. Traders noted that precious metals continue to be a safe investment amid market volatility.
Market observers say the rise in gold prices reflects investor confidence in gold as a hedge against inflation. With global economic conditions remaining uncertain, local buyers are expected to continue monitoring the market closely.
The increase in gold and silver rates underscores the impact of international trends on Pakistan’s precious metals market. Traders advise buyers to stay informed about price movements to make timely investment decisions.
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