Gold price surges again in Pakistan as major jump stuns buyers
The latest increase has pushed the price of 24-karat gold to Rs477,136 per tola. The All Pakistan Sarafa Gems and Jewellers Association said the price of 10 grams of gold also increased. It rose by Rs4,458, taking the 10-gram rate to Rs409,067.
Global market pushes prices higher
The increase came alongside another strong rise in international gold prices. Gold gained $52 per ounce in the international market, reaching $4,547.
The rise in global prices has also affected Pakistan’s local bullion market. This has resulted in gold becoming more expensive for local buyers for the second consecutive day.
Silver price also climbs
Silver prices also moved higher in the local market. The price of one tola of silver increased by Rs219, reaching Rs7,379.
The continued rise in precious metal prices is adding pressure on buyers. Gold jewellery and investment costs are becoming more expensive as international and local rates move upward.
Gold gains Rs18,900 in two days
Gold has recorded a particularly sharp increase over the past two days. The price of one tola of gold has risen by Rs18,900 during this period.
Silver has also posted a notable increase over the same two days. Its per tola price has gone up by Rs579, showing that the rally has extended beyond gold.
The latest jump shows how quickly changes in international gold prices can affect Pakistan’s local market. Buyers may now face higher costs if global prices continue to rise.
The sharp two-day increase could also influence people planning to buy jewellery or invest in gold. Market prices will likely remain sensitive to movements in the international bullion market.
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