Local Gold Prices Surge in Line with Global Market Trends
Gold prices in Pakistan saw a sharp rise on Wednesday, with the price of 24-karat gold per tola increasing by Rs4,250, reaching Rs287,450.
According to the All Pakistan Sarafa Gems and Jewellers Association (APSGJA), the price of 10 grams of 24-karat gold also climbed by Rs3,642, settling at Rs246,440. Meanwhile, 10 grams of 22-karat gold rose by Rs3,346, reaching Rs225,911.
This spike in local gold prices aligns with global market trends, where gold prices surged by $40, reaching $2,751 per ounce.
Silver prices also followed an upward trend. The price of one tola of 24-karat silver rose by Rs59.40, reaching Rs3,431, while 10 grams of silver increased by Rs51.50, standing at Rs2,941. Internationally, silver prices edged up by $0.56, hitting $30.84 per ounce.
Experts attributed this hike to global market dynamics and the weakening local currency. Amid ongoing uncertainties in the global economy, precious metals continue to be a preferred choice for investors.
