Gold prices in Pakistan recorded a sharp increase on Friday, reflecting a strong upward trend in the international bullion market.The surge pushed the per tola price to a new elevated level, reinforcing gold’s role as a preferred safe-haven asset.The local gold market moved in line with global momentum, resulting in notable daily gains for investors and buyers alike.
In the domestic market, gold per tola climbed by Rs5,700 to settle at Rs460,262.This increase marked a decisive rebound after the previous session’s decline, signaling renewed buying interest.Similarly, the price of 10 grams of gold rose by Rs4,887, reaching Rs394,600.These figures indicate sustained strength across all commonly traded gold weights in Pakistan.
Just a day earlier, gold prices had shown a downward movement.The per tola rate had slipped by Rs2,400, closing at Rs454,562.However, the latest surge not only erased those losses but also lifted prices to a higher range.This swift turnaround highlights the volatility currently shaping precious metal markets.
International Market Drives Local Momentum
The primary driver behind the domestic increase remains the global gold market.International gold prices jumped by $57 per ounce, reaching $4,379.This rate includes a premium of $20, which further amplified local price calculations.As a result, Pakistani gold rates adjusted upward almost immediately, following established market patterns.
Global investors continue to favor gold amid economic uncertainty and currency fluctuations.Consequently, price movements in international trading hubs directly influence domestic markets.This close linkage explains the sharp rise observed in Pakistan within a single trading session.
Silver Prices Also Hit Record Levels
Alongside gold, silver prices in Pakistan also recorded a significant increase.The price of silver per tola rose by Rs227, reaching Rs7,862.This level represents a new all-time high in the local market.The surge reflects growing interest in silver as an alternative precious metal during periods of market instability.
Market Outlook
The latest movement suggests that precious metals may remain volatile in the near term.However, persistent global demand continues to provide strong support for prices.For local buyers, these increases underline the importance of closely tracking international trends.Meanwhile, investors remain focused on gold and silver as hedges against uncertainty.
Overall, the sharp rise in gold and silver prices confirms the strong influence of global markets on Pakistan’s bullion trade.As international prices remain elevated, local rates are likely to stay under upward pressure.
