Gold prices surge in global and Pakistan markets

Gold prices witnessed a significant increase in both international and local markets on Tuesday, driven by strong gains in the global bullion market.

Karachi: Gold prices witnessed a significant increase in both international and local markets on Tuesday, driven by strong gains in the global bullion market. The latest surge pushed gold to new record levels, impacting precious metal prices across Pakistan.

According to market data, the international bullion market recorded a $47 increase per ounce, taking the global gold price to $4,068 per ounce. The sharp rise reflects continued investor demand for safe-haven assets amid global economic uncertainty and market volatility.

Following the upward trend in international markets, Pakistan’s local bullion market also experienced a notable jump in gold prices. The price of 24-karat gold per tola increased by Rs4,700, reaching Rs429,236. The increase marks one of the most significant single-day gains in recent weeks.

Similarly, the price of 10 grams of 24-karat gold climbed by Rs4,029, bringing the new rate to Rs368,000. The latest price hike is expected to affect jewelry buyers and investors, as demand for gold typically fluctuates with changes in international market trends.

Silver prices also followed the upward trajectory. The price of silver per tola increased by Rs219, reaching Rs6,396, while the price of 10 grams of silver rose by Rs188 to Rs5,483.

Experts believe that local precious metal prices will continue to remain closely linked to international bullion market movements and fluctuations in the exchange rate. Any further increase in global gold prices or changes in economic conditions could lead to additional price adjustments in Pakistan’s bullion market.

Investors and consumers are advised to monitor daily gold and silver rates before making purchasing or investment decisions, as prices remain highly sensitive to global economic developments and market sentiment.