Gold prices in Pakistan surge sharply after three-day decline
Business
The international bullion market reflected the same momentum of sharp surge in gold prices.
KARACHI (Dunya News) – Gold prices in Pakistan rebounced back strongly on Friday in both international and domestic markets, ending a three-day downward streak.
According to the All Pakistan Sarafa Gems and Jewellers Association (APSGJA), the price of 24-karat gold surged by Rs3,000 per tola, pushing the rate to Rs444,462. Dealers attributed the spike to a rise in global prices and renewed investor interest in safe-haven assets.
Similarly, the price of 10 grams of 24-karat gold increased by Rs2,572, taking the new price to Rs381,054. The price of 22-karat gold also moved upward, gaining Rs2,358 to reach Rs349,312.
The international bullion market reflected the same momentum. Globally, gold prices jumped $30 per ounce, settling at $4,221. Analysts said the increase signals persistent demand amid global economic uncertainty, currency fluctuations and portfolio diversification trends.
Silver prices also followed the upward trend. The price of 24-karat silver rose by Rs72 per tola to Rs6,072, while 10 grams of silver increased by Rs61, with new rates standing at Rs5,205.
Market watchers expect fluctuations to continue, noting that both domestic and international factors, including US dollar movement, geopolitical developments and investment sentiment, will keep influencing precious metal prices in the coming days.
