Gold price in Pakistan recorded another increase on Thursday as local bullion markets followed the upward trend in international rates. The price of gold per tola rose by Rs1,000, reaching Rs492,362, according to the latest market data shared by traders.
The fresh increase came after international gold prices moved higher by $10 per ounce. Market analysts said the rise in global demand and ongoing economic uncertainty supported the increase in precious metal prices across several countries, including Pakistan.
According to the All-Pakistan Gems and Jewellers Sarafa Association, the price of 10-gram gold also increased during the trading session. The rate climbed by Rs858, taking the new price to Rs422,121 in local markets.
A day earlier, gold prices had witnessed a decline of Rs1,100 per tola. However, Thursday’s rebound helped recover part of the previous losses, showing continued volatility in the bullion market.
The international gold rate reached $4,700 per ounce, including a premium of $20. Experts believe investors continue to view gold as a safer asset during periods of inflation concerns and changing global financial conditions.
Besides gold, silver prices also moved upward in Pakistan. The price of silver per tola increased by Rs65 and settled at Rs9,204. Traders noted that both gold and silver markets remained active due to changing investor sentiment.
The latest increase in the gold price in Pakistan may impact jewelry buyers and investors in the coming days. Market observers expect prices to remain sensitive to international economic developments and currency fluctuations throughout the week.
