Gold Prices Surge in Pakistan as International Rates Climb

KARACHI: Gold prices recorded a sharp increase in Pakistan on Friday, following a strong upward trend in international bullion markets.

According to the All Pakistan Sarafa Gems and Jewellers Association, the price of 24-karat gold rose by Rs. 12,200 per tola, taking the new rate to Rs. 440,936 per tola.

The price of 10 grams of 24-karat gold also increased by Rs. 10,459, reaching Rs. 378,031.

The latest rise comes a day after gold prices had already gained Rs. 9,100 per tola, reflecting continued volatility in the precious metals market.

Internationally, gold prices also moved higher, increasing by $122 per ounce to settle at $4,185 per ounce, contributing to the upward trend in local prices.

Meanwhile, silver prices also registered gains. The price of silver increased by Rs. 319 per tola, bringing the local rate to Rs. 6,764 per tola.

Market analysts say local gold prices generally follow trends in the international market, along with fluctuations in the exchange rate and overall market conditions.