Gold Prices
Gold prices in Pakistan experienced a sharp surge on Thursday, reversing the previous day’s decline and reflecting the broader rally in international bullion markets.
The domestic market reacted swiftly to global trends, pushing gold rates to new highs and underscoring the ongoing volatility that has gripped precious metal markets in recent weeks.
According to the All Pakistan Sarafa Bazaar Jewellers Association, the price of 24-karat gold per tola jumped by Rs3,200, bringing the new rate to Rs354,700. Similarly, the price for 10 grams of 24-karat gold increased by Rs2,744, now standing at Rs304,098. This considerable upswing came just a day after gold prices had dipped by Rs300 per tola, highlighting the unpredictable nature of the market.
The surge in local prices is directly linked to developments in the international bullion market, where the price of gold per ounce rose by $32, reaching $3,324.
Analysts suggest that a combination of economic uncertainty, geopolitical tensions, and shifting investor sentiment continues to drive global demand for gold as a safe-haven asset, which in turn influences domestic pricing trends.
In addition to gold, silver also recorded gains. The price of silver per tola rose by Rs10 to settle at Rs3,851, while the rate for 10 grams increased by Rs8, reaching Rs3,301. The parallel rise in silver prices further reflects heightened investor interest in precious metals amid market instability.
Traders and jewellers are closely monitoring these rapid fluctuations, advising both investors and consumers to stay informed. Market experts warn that such price swings are likely to continue in the short term due to global economic indicators, including interest rate policies, inflation data, and currency movements.
This latest jump in gold and silver rates demonstrates the sensitive nature of the precious metals market in Pakistan, which is often quick to respond to international cues.
For both investors and the average consumer, the fluctuating prices present challenges in decision-making, particularly for those looking to buy gold for weddings, savings, or long-term investment.
As the global economic environment remains uncertain, further volatility in gold and silver prices cannot be ruled out, keeping traders, investors, and consumers on high alert.
