KARACHI: Gold continued its upward trend in Pakistan’s local market on Thursday, following gains in the international market.
According to the All Pakistan Gems and Jewellers Association, the price of per tola gold rose by Rs900, settling at Rs362,600. Similarly, ten-gram gold increased by Rs772, reaching Rs310,871.
In the international market, gold gained $9 per ounce, pushing the global rate to $3,399. Analysts said the steady rise is driven by global demand and economic factors.
A day earlier, per tola gold had increased by Rs1,000 to Rs361,700, while ten-gram gold rose by Rs857 to Rs310,099. The price of 10 grams of 22-karat gold also jumped by Rs785, reaching Rs284,267.
Experts warn that the precious metal may continue its upward trajectory if global trends remain strong. Investors and jewellery buyers are closely monitoring prices before making purchases.
Meanwhile, Pakistanis may face another rise in fuel prices as global crude oil rates continue to climb. Over the last fortnight, Brent crude increased from $65.85 to $67.47 per barrel, and US crude went up from $61.98 to $63.62 per barrel.
The last petrol and diesel price revision was on August 16, setting super petrol at Rs264.61 per litre and diesel at Rs272.99 per litre. Rising import costs and currency fluctuations contributed to that hike.
The Oil and Gas Regulatory Authority (OGRA) will submit its next pricing recommendations to the government on August 31. Analysts note that any further increases in global oil rates could push domestic fuel prices higher, adding pressure to household budgets.
Investors and consumers are advised to stay updated on gold and fuel market trends as both commodities continue to respond to global economic changes.
In other news read more about Gold Rate Surges Again in Pakistan for Second Consecutive Day
