Summary
- Gold prices in Pakistan surged sharply on Thursday, rising by Rs13,700 per tola as international bullion prices recorded a strong increase.
- On Wednesday, local gold prices had declined by Rs3,700 per tola despite a strong rise in international prices.
- With international gold prices reaching $4,495 per ounce and the local rate crossing Rs470,000 per tola, market participants will be closely watching the next trading sessions for signs of whether the rally will continue or prices will experience another correction.
Gold prices in Pakistan surged sharply on Thursday, rising by Rs13,700 per tola as international bullion prices recorded a strong increase.
According to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), the price of gold increased to Rs471,936 per tola, compared with Rs458,236 recorded on the previous day.
The price of 10 grams of gold also climbed significantly, increasing by Rs11,746 to Rs404,609.
The sharp increase in local gold prices came alongside a major rally in the international bullion market. International gold prices rose by $137 per ounce to $4,495, providing strong upward momentum to domestic prices.
The latest increase follows significant fluctuations in Pakistan’s gold market over the past several trading sessions. On Wednesday, local gold prices had declined by Rs3,700 per tola despite a strong rise in international prices. The rate had fallen to Rs458,236 per tola, while 10 grams of gold were priced at Rs392,863.
On Tuesday, gold prices remained unchanged at Rs461,936 per tola. Earlier on Monday, the precious metal had gained Rs2,000 per tola, reaching Rs461,936.
The latest movement highlights the volatility currently being witnessed in the precious metals market. International bullion prices remain a key factor influencing gold rates in Pakistan, while local prices can also be affected by currency movements and domestic market conditions.
Silver prices also recorded a substantial increase on Thursday. According to APGJSA figures, the price of silver rose by Rs317 per tola to Rs7,169. The price of 10 grams of silver also increased by Rs317 to Rs6,146.
The sharp rise in gold prices is likely to attract renewed attention from investors, jewelers and consumers who closely monitor precious metal rates. Gold is often considered a store of value, making significant price movements particularly important for investors and households.
With international gold prices reaching $4,495 per ounce and the local rate crossing Rs470,000 per tola, market participants will be closely watching the next trading sessions for signs of whether the rally will continue or prices will experience another correction.
