Gold prices in Pakistan recorded a sharp increase on October 9, with the price of 24-karat gold rising by Rs5,900 per tola to reach Rs440,936. The increase came as international bullion prices continued to climb, pushing local gold rates higher.
The price of 10 grams of 24-karat gold also increased by Rs5,058, reaching Rs378,031. The latest rise followed a smaller increase on Thursday, when gold gained Rs600 per tola to reach Rs435,036.
Friday’s increase added further pressure to the domestic bullion market. The continued rise in gold prices may affect consumers planning to purchase jewellery or invest in the precious metal.
International Gold Prices Also Rise
In the international market, gold prices increased by $59 per ounce to reach $4,184. The upward movement in global bullion prices provided the backdrop for the latest increase in Pakistan.
However, international and domestic gold rates do not always move by the same amount. Local prices can also be affected by currency exchange rates, market premiums and other pricing factors.
Silver Prices Increase
Silver prices also moved higher in Pakistan on October 9. The price of silver increased by Rs144 per tola, bringing the rate to Rs6,512.
The increase indicates that the latest upward movement was not limited to gold, as silver also recorded gains in the domestic market.
Buyers Advised to Confirm Local Rates
Gold rates can vary between cities and jewellery markets. The supplied figures list quotations of Rs436,500 and Rs435,500 for Lahore, Rs431,500 and Rs429,500 for Pathoor, Rs437,500 for Karachi and Rs450,500 for Peshawar. The exact categories represented by these figures were not specified, so they should be confirmed before publication as city-specific buying or selling rates.
A separate quotation for a one-kilogram bar listed a figure of 6,600, but its unit, currency and category were unclear. This figure requires confirmation and has not been treated as a verified gold rate.
For jewellery buyers, the higher per-tola price means a greater base cost before making charges and other applicable fees. Consumers are advised to confirm current rates with local jewellers before making a purchase.
