Gold price today Pakistan rose sharply on Friday as both local and international markets witnessed gains. The price of gold increased by Rs3,400 per tola, reaching Rs490,362, while the rate for 10 grams climbed by Rs2,915 to Rs420,406.
In international markets, gold prices rose by $34 per ounce to $4,676, signaling renewed investor interest. This recovery followed a previous decline driven by a stronger US dollar and rising oil prices.
Silver also moved higher in Pakistan, with the per tola rate increasing by Rs160 to Rs7,794 and the 10-gram rate rising by Rs138 to Rs6,682. Globally, silver was priced at $73.10 per ounce.
Earlier on Thursday, gold prices had fallen sharply locally, with per tola rates dropping by Rs7,100 to Rs486,962. Similarly, the price for 10 grams decreased by Rs6,087 to Rs417,491, reflecting international market trends.
The fluctuations came after gold hit a two-week high of Rs494,062 per tola, gaining Rs15,300 in a single session. Internationally, spot gold dropped 2% to $4,660.95 per ounce, and US gold futures slipped 2.6% to $4,686.80.
Market analysts attribute the previous decline to increased geopolitical tensions, including potential US military actions against Iran, which pushed oil prices higher and strengthened the dollar. These factors typically pressure non-yielding assets like gold.
Overall, the recent rebound in gold and silver prices highlights investor confidence returning to precious metals. Both metals continue to show volatility influenced by global economic and geopolitical developments.
