The price of gold in Pakistan witnessed a sharp rise on Saturday, marking one of the biggest single-day hikes in recent weeks. After briefly declining a day earlier, the precious metal rebounded strongly, reflecting both domestic and global market pressures.
According to the All Pakistan Sarafa Gems and Jewellers Association (APSGJA), the price of 24-karat gold per tola jumped by an impressive Rs4,100, reaching Rs359,800. Similarly, the rate for 10 grams of gold increased by Rs3,515, bringing the new price to Rs308,470. The surge has once again brought gold closer to record levels, highlighting ongoing market volatility.
The rally was not limited to the local market. On the international front, gold prices also recorded a substantial increase. The global price of gold per ounce rose by $41, pushing it to $3,371.
Analysts suggest that growing uncertainty in global financial markets, coupled with geopolitical tensions and fluctuations in the US dollar, are contributing factors to the precious metal’s sharp upward trend.
Silver prices in Pakistan followed a similar trajectory, further reflecting the strength of the bullion market. The price of 24-karat silver per tola went up by Rs108, settling at Rs4,121, while the price of 10 grams of silver rose to Rs3,533. This consistent upward movement in both gold and silver indicates a strong demand for safe-haven assets.
Economic experts believe that the latest surge in gold prices is tied to investor concerns over inflation, currency depreciation, and the uncertainty in global economic recovery. For many in Pakistan, gold continues to be considered a reliable hedge against inflation and a secure form of investment, which explains the rising demand despite record-high rates.
With global markets remaining unstable, both investors and ordinary buyers are expected to keep a close watch on the bullion market in the coming weeks.
