The gold price witnessed a significant surge in both Pakistan and global markets on Thursday, driven by rising investor demand and economic uncertainty.
According to the All Pakistan Sarafa Gems and Jewellers Association (APSGJA), the price of 24-karat gold increased by Rs8,300 per tola, reaching Rs443,062. Similarly, 10 grams of 24K gold rose by Rs7,116 to Rs379,854.
The gold price for 22-karat gold also climbed sharply. Ten grams of 22K gold were priced at Rs348,212, up by Rs6,524 compared to previous rates. Experts attribute the increase to stronger global demand and fluctuating currency trends.
In international markets, gold prices rose by $83 per ounce, settling at $4,207. Analysts say this growth reflects sustained investor interest in precious metals as a safe haven amid ongoing economic uncertainties.
Silver prices also followed the upward trend. In Pakistan, the price per tola increased by Rs228 to Rs5,662, while 10 grams rose by Rs196 to Rs4,854. Globally, silver traded at $54 per ounce, marking a modest gain of $2.28.
Market observers noted that the rise in gold price is partially influenced by global economic indicators, inflation concerns, and shifts in currency values, prompting investors to seek stability in precious metals.
Jewellers in Pakistan have reported strong local demand, especially for 24K gold, as buyers look to capitalize on rising prices. Analysts caution that continued global uncertainty could push gold price even higher in the coming weeks.
Investors and consumers are advised to monitor both local and international trends before making significant purchases, as market volatility could impact rates further.
In other news read more about Gold Prices Fall In Pakistan Amid Global Market Correction
The surge in precious metal prices underscores the ongoing role of gold as a preferred investment option during times of economic instability.
