Gold prices in Pakistan witnessed a significant rise on Saturday, bouncing back sharply after a brief one-day pause, reflecting the strong upward trend in the international bullion market. The surge comes as investors and traders respond to global gains, maintaining the traditional link between domestic and international gold rates.
According to local bullion dealers, the price of 24-carat gold increased by Rs11,700 per tola, reaching Rs519,462. Similarly, the cost per 10 grams climbed by Rs10,030, bringing it to Rs445,354. The sharp rise in local gold prices follows the international market, where the precious metal advanced by $117 per ounce, reaching a rate of $4,967 per ounce.
Silver prices in Pakistan also saw upward movement alongside gold. The per tola rate of silver increased by Rs444 to Rs8,269, while the price per 10 grams went up by Rs381 to Rs7,089. These gains indicate strong demand for precious metals in the domestic market, as investors look to hedge against currency fluctuations and global market volatility.
Experts say that gold prices in Pakistan have remained highly volatile in recent trading sessions, largely influenced by international trends and movements in the local currency. The correlation between the global bullion market and domestic rates continues to be a major factor driving price changes, with traders closely monitoring international developments for guidance.
The recent surge in gold underscores its ongoing appeal as a safe-haven investment amid economic uncertainty. Both investors and consumers are paying close attention to price movements, while bullion dealers anticipate continued fluctuations in the coming weeks, keeping gold at the center of market discussions and financial planning in Pakistan.
Also Read: Gold And Silver Prices In Pakistan Reach Record-Breaking Highs
