Gold prices in Pakistan recorded another sharp increase on Saturday as international rates continued to rise.
The price of 24-karat gold increased by Rs5,700 per tola in the local market.
Following the increase, the rate reached Rs482,936 per tola.
The latest figures were reported by the All Pakistan Gems and Jewellers Sarafa Association. The increase brought prices closer to the Rs500,000 per tola level.
A trader told ProPakistani that rates could cross Rs500,000 again if the current trend continues. However, future prices will depend on movements in domestic and international markets.
Gold Price Rises by Rs5,700 Per Tola
The latest increase follows another major jump recorded on Friday.
Gold had gained Rs5,200 per tola on Friday, reaching Rs477,136. Saturday’s Rs5,700 increase pushed the price further to Rs482,936 per tola.
This means the precious metal gained Rs10,900 per tola across the two reported sessions. The price of 10 grams also recorded a significant increase.
The 10-gram rate rose by Rs4,972 to reach Rs414,039. These increases reflect the continued upward movement in bullion prices.
International Gold Price Reaches $4,604
The local increase came alongside another rise in the international market.
International gold prices increased by $57 per ounce.
Following the increase, the rate reached $4,604 per ounce. The quoted international price includes a premium of $20.
Movements in international bullion markets can influence prices in Pakistan. Local rates can also be affected by other market factors.
Could Gold Cross Rs500,000?
The latest price of Rs482,936 leaves a gap of Rs17,064 from the Rs500,000 mark. A trader said prices could cross that level again during the coming days.
The prediction depends on whether the current upward trend continues. There is no guarantee that prices will reach Rs500,000 within a specific period.
Bullion prices can move quickly in response to changing market conditions. Buyers and investors may therefore continue monitoring daily rates closely.
Silver Prices Remain Unchanged
While Gold moved higher, silver prices remained unchanged from Friday’s level. Silver closed the week at Rs7,379 per tola.
The difference in movement shows that the two precious metals did not follow the same daily trend. For now, attention remains focused on whether gold can maintain its recent momentum.
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Any further strong increase could take the local price closer to Rs500,000 per tola.
