Gold prices surge in Pakistan, hit record high
Gold prices in Pakistan surged further on Thursday, aligning with a rise in international rates.
According to the All-Pakistan Gems and Jewellers Sarafa Association, the price of gold per tola increased by Rs1,400, reaching Rs282,200.
Similarly, the price of 10-gram gold rose by Rs1,200 to settle at Rs241,941.
This marks the second consecutive day of significant price hikes. On Wednesday, the price of gold per tola had already jumped by Rs2,900, closing at Rs280,800.
An APGJSA representative remarked, “The consistent increase in gold prices reflects a strong upward trend in the international market, which is influencing local rates.”
On the international front, the price of gold increased to $2,703 per ounce, including a $20 premium, marking a $13 rise during the day, as reported by Pakistani Daily Times on Friday.
In addition to gold, silver prices also saw an upward trend. The price per tola of silver rose by Rs83, settling at Rs3,433.
Experts note that fluctuating currency exchange rates and ongoing global economic uncertainties are contributing to the steady rise in precious metal prices.
“Gold remains a safe haven for investors during times of economic instability,” an industry analyst added.
