The precious stone was sold at Rs356,200 on the previous trading day, according to All Pakistan Sarafa Gems and Jewelers Association.
Similarly, the price of 10 grams of 24 karat gold also recorded a sharp increase of Rs1,286, settling at Rs306,670 from its earlier Rs305,384. In line with this, the price of 10 grams of 22 karat gold rose by Rs1,179 to Rs281,124 from Rs279,945.
Interestingly, while gold prices saw a significant rise, silver rates remained unchanged. The price of per tola silver stood firm at Rs4,031, and 10 grams of silver stayed constant at Rs3,455.
On the international front, the gold market also showed an upward trend. The global price of gold increased by $15, climbing to $3,350 from $3,335. Silver, however, remained stable at $37.98.
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The sudden increase in domestic gold prices highlights ongoing volatility in both local and international markets. While the Pakistani rupee’s performance and global economic concerns continue to influence demand, the unchanged silver price indicates that investors are still leaning towards gold as a safer asset. The international rise further adds pressure on local buyers, making gold an even more expensive commodity for consumers and jewelers alike.
