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The price of 24-karat gold in Pakistan jumped by Rs. 800 per tola on Thursday, reaching Rs. 357,000, as reported by the All Pakistan Sarafa Gems and Jewelers Association. This marks a significant increase compared to the last trading day when gold was priced at Rs. 356,200 per tola.
The latest surge brings the total weekly rise to Rs. 7,600 per tola, reflecting ongoing volatility in both domestic and international bullion markets.
Daily Gold Price Movement Throughout the Week
- Monday: +Rs. 800 per tola
- Tuesday: +Rs. 6,600 per tola
- Wednesday: -Rs. 600 per tola
- Thursday: +Rs. 800 per tola
Total Weekly Change: +Rs. 7,600 per tola
The persistent fluctuations are largely attributed to changing global trends, currency movements, and market speculation, analysts say.
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24K and 22K Gold Prices per 10 Grams Also Rise
Alongside per tola rates, the prices of gold per 10 grams also witnessed a noticeable increase:
- 24 Karat Gold: Rose by Rs. 685 to Rs. 306,069 (from Rs. 305,384)
- 22 Karat Gold: Increased by Rs. 628 to Rs. 280,573 (from Rs. 279,945)
Silver Prices Edge Higher in Local and Global Markets
Silver prices followed a similar trend:
- Per Tola Silver: Increased by Rs. 55 to Rs. 3,871
- Per 10 Grams Silver: Up by Rs. 47 to Rs. 3,318
In the international market, silver prices rose by $0.55 to $36.87, while gold prices increased by $8, hitting $3,350 per ounce, up from $3,342.
Market Outlook: What to Expect?
With gold showing strength globally and geopolitical uncertainties influencing safe-haven demand, bullion prices in Pakistan are expected to remain volatile. Investors and jewelers are advised to keep an eye on international trends, as well as local currency movements, which directly affect prices.
