On Friday, gold prices in Pakistan saw an uptick following an increase in the international market rates.
Local reports from the All Pakistan Gems and Jewellers Sarafa Association indicated that the price of gold per tola rose to Rs242,900, marking a Rs1,600 increase from the previous day’s price of Rs241,300.
Similarly, the price of 10 grams of gold reached Rs208,248 after a Rs1,372 gain.
The fluctuations in gold prices are intricately tied to movements in the US Dollar’s value, highlighting the interplay between currency dynamics and commodity pricing. This relationship underscores how global economic factors influence local gold markets.
Internationally, the price of gold surged to $2,363 per ounce on Friday, reflecting a substantial $28 increase over the course of the day. This rise in international rates contributed to the upward movement observed in Pakistan’s domestic market.
In contrast, silver prices remained stable at Rs2,750 per tola locally. The stability in silver prices complemented the fluctuating trend observed in gold.
On Thursday, the price of 10 grams of 24-karat gold was steady at Rs206,876, while the corresponding amount of 22-karat gold also maintained stability at Rs189,636.
Meanwhile, the international price of gold saw a more modest increase of $3, reaching $2,335 per ounce.
These price movements reflect the responsiveness of local and international markets to broader economic conditions, shaping investor sentiment and consumer behavior in the precious metals sector.
