Gold prices in Pakistan recorded another strong increase on Saturday. The latest rise followed a fourth consecutive gain in international gold prices.
According to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), gold gained Rs. 2,200 per tola. The latest increase pushed the price to Rs. 456,536 per tola.
Since August 5, the precious metal has gained Rs. 28,600 per tola. The rapid increase has brought the total rise close to Rs. 29,000 within a few trading sessions.
The latest movement shows continued strength in the local gold market. Gold Gains Rs. 29,000 as domestic prices follow gains in the international market.
The price of 10-gram gold also increased on Saturday. It rose by Rs. 1,887 and reached Rs. 391,406.
Gold prices had already recorded a major increase on Friday. The per tola rate climbed by Rs. 5,100 during that session.
Following Friday’s rise, gold reached Rs. 454,336 per tola. Saturday’s additional increase pushed the price further above the Rs. 456,000 level.
International gold prices also remained positive. Gold gained $22 per ounce in the global market.
The international price reached $4,341 per ounce. The continued global increase has supported the upward trend in Pakistan’s local market.
The latest figures indicate strong demand and higher international prices are influencing domestic rates. Currency movements can also affect gold prices in Pakistan.
The precious metal remains closely watched by investors and consumers. Changes in global prices often have a direct impact on local bullion rates.
Meanwhile, silver prices moved in the opposite direction on Saturday. Silver declined by Rs. 113 per tola.
The price of silver settled at Rs. 6,826 per tola. It remained below the Rs. 7,000 mark at the end of the week.
The latest gold movement highlights the strong gains recorded during August. Gold Gains Rs. 29,000 since August 5, reflecting sustained upward pressure on prices.
Market participants will continue monitoring international bullion prices. Further changes in global rates could influence Pakistan’s gold prices in the coming sessions.
In other news read more about Gold Prices Rise for Fourth Consecutive Day in Pakistan
For now, gold has maintained its upward momentum. The latest APGJSA figures show another significant increase in local bullion rates.
