Gold prices in Pakistan experienced a significant surge on Saturday, reflecting a similar trend in global markets. According to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), the price of 24-karat gold decreased by a notable Rs1,600 per tola, bringing the total to Rs275,500.
Additionally, the price of 10 grams of 24-karat gold increased by Rs1,372, now standing at Rs236,197. This fluctuation comes amidst a broader rise in international gold prices, which saw a jump of $16 during the day. The global gold price is currently recorded at $2,656 per ounce.
Despite the increase in gold prices, the silver market remained stable, with the price of silver holding steady at Rs3,050 per tola. Last month, gold prices in Pakistan had reached a record high of Rs277,000 per tola, driven by substantial gains in the international market.
The fluctuating gold prices are closely monitored by investors and the public alike, as gold is often seen as a safe investment during uncertain economic times. The recent changes highlight the volatility of precious metal prices influenced by global market conditions, currency fluctuations, and geopolitical factors.
As the market adjusts to these new prices, jewelers and consumers will be keeping a close eye on both local and international trends to make informed decisions. The ongoing uncertainty in the global economy could further impact gold prices in the coming weeks, making it essential for stakeholders to stay updated on market developments.
