Summary
- Gold prices in Pakistan recorded a modest increase on Thursday, reflecting an upward trend in the international bullion market.
- Market experts say domestic gold prices are largely influenced by changes in international bullion rates and fluctuations in the exchange rate.
- The increase in global bullion prices contributed to the latest rise in Pakistan’s gold market.
Gold prices in Pakistan recorded a modest increase on Thursday, reflecting an upward trend in the international bullion market.
According to the All Pakistan Gems and Jewellers Association, the price of one tola of gold rose by Rs400, taking the new rate to Rs425,436. The increase comes as local bullion prices continue to follow movements in global gold markets.
The price of 10 grams of gold also increased by Rs343. After the latest adjustment, 10 grams of the precious metal is now being sold for Rs364,742 across the country.
Market experts say domestic gold prices are largely influenced by changes in international bullion rates and fluctuations in the exchange rate. Even a small rise in global prices can affect local markets, resulting in revised rates announced by bullion associations.
The association further reported that gold prices in the international market climbed by $4 per ounce, reaching $4,030 per ounce. The increase in global bullion prices contributed to the latest rise in Pakistan’s gold market.
Gold remains a preferred investment option for many people during periods of economic uncertainty, while jewellers closely monitor international trends to determine local prices. Traders expect the market to remain sensitive to further movements in global bullion rates and currency fluctuations in the coming days.
We welcome your contributions! Submit your blogs, opinion pieces, press releases, news story pitches, and news features to opinion@minutemirror.com.pk and minutemirrormail@gmail.com
