24-karat gold price rises by Rs1,000 per tola

KARACHI: Gold prices in Pakistan experienced an upswing on Saturday, recovering from a recent dip, despite a decline in international rates.

The local market saw the price of 24-karat gold per tola rise by Rs1,000, bringing the cost to Rs262,500, as reported by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA).

Similarly, the price of gold for a 10-gramme weight also recorded an increase, climbing by Rs857 to settle at Rs225,051. This uptick follows a significant drop earlier in the week when gold prices had fallen by Rs2,200 per tola on Thursday.

Last week, gold prices in Pakistan hit a record high of Rs263,700 per tola, reflecting strong demand and market dynamics. However, the recent fluctuations have introduced some volatility in the market.

Meanwhile, silver prices remained unchanged today, holding steady at Rs2,950 per tola. The stability in silver prices comes as gold continues to dominate the precious metals market in Pakistan.

In contrast to the local market trends, the international price of gold saw a decline on Saturday. According to the APGJSA, the global rate for gold was $2,503 per ounce, including a $20 premium.

This marked a $13 decrease from the previous day, highlighting a divergence between local and international market movements.

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