Gold prices in Pakistan witnessed a sharp surge on Tuesday, reaching new historic highs amid a rise in international bullion rates and fluctuations in the interbank exchange market.
According to the All Pakistan Sarafa Gems and Jewellers Association (APSGJA), the price of 24-karat gold per tola increased by Rs 24,000, taking it to Rs 514,362. Similarly, the price of 10 grams of 24-karat gold jumped by Rs 20,576 to settle at Rs 440,982.
The rate of 10 grams of 22-karat gold also rose significantly, climbing Rs 18,862 to reach Rs 404,248.
International Market Impact
In the international market, gold prices surged by $240, reaching $4,916 per ounce, which directly influenced the domestic bullion market. Analysts attribute the rally to global economic uncertainty and increased investor demand for safe-haven assets.
Silver Prices Also Climb
Silver prices followed a similar upward trend. The price of 24-karat silver per tola increased by Rs 741 to Rs 9,146, while 10 grams of silver rose by Rs 636 to Rs 7,841. In the global market, silver prices climbed by $7.41 to $86.71 per ounce.
Market Outlook
Bullion dealers noted that gold rates are based on interbank exchange rates and international market movements. With continued volatility in global markets, traders expect prices to remain unstable in the coming days.
The surge has raised concerns among buyers ahead of the wedding season, while investors continue to view gold as a hedge against inflation and currency depreciation.
