The price of 24 karat gold per tola increased by Rs3,000 and was sold at Rs536,562 compared to Rs533,562 on the previous trading day, according to the All Pakistan Sarafa Gems and Jewellers Association.
Similarly, the price of 10 grams of 24 karat gold rose by Rs2,572 to Rs460,015 from Rs457,443. The price of 10 grams of 22 karat gold also moved up by Rs2,358 to Rs421,695 from Rs419,337.
Silver prices also recorded an increase. Per tola silver gained Rs146 and was sold at Rs9,094 compared to Rs8,948. Meanwhile, 10 grams of silver increased by Rs125 to Rs7,796 from Rs7,671.
In the international market, gold prices climbed by $30 to $5,138 from $5,108. Silver also rose by $1.46 to $86.10, the Association reported.
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Market experts say the fresh rise in gold price is linked to strong global demand and economic uncertainty. Investors often turn to gold as a safe option when markets face pressure. If the upward trend continues internationally, local gold price may see further increases in coming days.
Gold price is moving up because global markets are unstable. People invest in gold when they feel unsure about the economy. If dollar prices stay high, local rates may increase again. Buyers may wait, but investors are watching closely.
