As a result, the precious stone’s price reached Rs336,100, compared to Rs335,200 a day earlier, according to the All Pakistan Sarafa Gems and Jewelers Association.

Similarly, 10 grams of 24-karat gold saw a notable hike of Rs772, with the new price touching Rs288,151, up from Rs287,379. The price of 10 grams of 22-karat gold also increased, now standing at Rs264,148, compared to the previous Rs263,440.

However, silver prices remained unchanged, with per tola silver steady at Rs3,377 and 10 grams silver at Rs2,985.

Also read: Dollar appreciates against rupee - What’s fueling this currency shuffle?

Adding more intrigue to the domestic trend, gold prices also climbed in the international market, where the rate rose by $9, from $3,168 to $3,177. In contrast, global silver prices remained flat at $31.95.

As gold continues its upward climb both locally and globally, investors and consumers are left wondering — is this just the beginning of another gold rally, or a short-term spike?

Why Gold Prices Fluctuate in Pakistan – Phrasal Form:

Follow international market trends – Global gold prices directly impact local rates.

React to dollar-rupee exchange rate – A weaker rupee makes gold imports costlier.

Depend on supply and demand – More demand (e.g., wedding season) pushes prices up.

Respond to inflation fears – People buy gold to protect savings during inflation.

Shift with investor sentiment – Traders buying or selling in bulk can shake the market.

Rise during economic uncertainty – Political or financial instability boosts gold buying.

Change with import duties and taxes – Higher government levies increase local prices.

Move with central bank policies – Interest rate cuts globally make gold more attractive.

Stabilize when demand drops – Off-season or calm markets can cause prices to ease.

Spike during global crises – Wars, pandemics, or financial shocks push prices higher.