Gold Gains More Than Rs26,000 in Three Days
Gold prices in Pakistan reached a fresh all-time high on Friday, continuing a powerful upward trend in the domestic bullion market.
According to the All Pakistan Sarafa Gems and Jewellers Association, the price of 24-karat gold increased by Rs5,100 per tola.
The latest increase pushed the rate to a record Rs454,336 per tola.
The surge follows another sharp increase of Rs11,300 per tola on Thursday.
Gold had also gained around Rs10,000 per tola on Wednesday.
Combined, the precious metal has increased by more than Rs26,000 per tola during the last three trading sessions.
The rapid increase has pushed jewellery prices to unprecedented levels and increased pressure on buyers.
Investors, however, continue to view gold as a protective asset during periods of economic uncertainty.
International Gold Rally Drives Local Prices Higher
The sharp rise in Pakistan closely followed gains in the international bullion market.
Global gold prices increased by $51 on Friday to reach approximately $4,319 per ounce, including premium.
Higher international prices immediately affected domestic rates because Pakistan relies heavily on global bullion benchmarks.
Currency movements and economic uncertainty also influence local gold prices.
The price of 24-karat gold per 10 grams increased by Rs4,372.
It reached a new level of Rs389,519.
Meanwhile, 10 grams of 22-karat gold was priced at Rs357,072.
The 22-karat category is widely used by jewellery manufacturers and retail buyers.
Industry participants said the continuous increase has weakened demand for jewellery.
Many consumers are delaying purchases because of record prices.
However, demand for gold bars and other investment products remains stronger.
Investors often turn to gold during periods of inflation, currency weakness and uncertainty in financial markets.
Silver Prices Also Record Sharp Increase
Silver prices followed gold higher in the domestic market.
The price of silver increased by Rs280 per tola to reach Rs6,939.
The 10-gram silver rate climbed by Rs240 to Rs5,949.
International silver prices also moved sharply higher.
Silver was quoted at approximately $64.60 per ounce, representing an increase of $2.80 from the previous session.
Market analysts said precious metal prices remain highly sensitive to international economic developments.
Changes in global interest rate expectations, currency markets and geopolitical uncertainty can quickly affect demand for gold and silver.
Pakistan’s domestic bullion market is also influenced by fluctuations in the rupee.
A weaker local currency can make imported gold more expensive even when international prices remain stable.
The latest rally has therefore created a difficult environment for jewellery buyers while strengthening gold’s appeal as an investment asset.
With bullion prices already at record levels, traders are closely watching global markets for signs of whether the rally will continue.
