Gold prices jump Rs3,000 per tola in Pakistan

Gold prices continued their upward trend in Pakistan on Friday, with the price of the precious metal increasing

Gold prices continued their upward trend in Pakistan on Friday, with the price of the precious metal increasing by Rs3,000 per tola in line with gains in the international market.

According to the All Pakistan Gems and Jewellers Association (APGJA), the latest increase pushed the price of one tola of gold to Rs430,436, marking another sharp rise in the local bullion market. The increase comes amid continued strength in global gold prices and growing demand for safe-haven assets.

The association also reported an increase in the price of 10 grams of gold. Following a rise of Rs2,572, the price of 10 grams reached Rs369,029.

Bullion dealers said local gold prices generally move in line with international market trends and are also influenced by fluctuations in the value of the Pakistani rupee against the US dollar. Any increase in global prices is usually reflected in domestic rates.

In the international market, gold prices also recorded a significant gain. The price of the precious metal rose by $30 per ounce, taking it to $4,080 per ounce. The global increase provided further support to rising prices in Pakistan.

Gold is widely regarded as a safe investment during periods of economic uncertainty and market volatility. As international prices continue to strengthen, local buyers and jewellers are closely monitoring market movements for further changes in bullion rates.

Market analysts believe domestic gold prices will continue to follow international trends, with future movements depending on global economic conditions, investor demand and currency fluctuations. Buyers are expected to remain cautious as higher prices increase the cost of jewellery and investment purchases