Gold price surges by over Rs1,000 per tola in Pakistan

KARACHI: On Friday, gold prices in Pakistan witnessed a notable uptick, mirroring the upward trend in the international market.

The yellow metal reached a value of Rs216,800 per tola, marking a substantial increase of Rs1,100 throughout the day.

According to data provided by the All Pakistan Gems and Jewellers Sarafa Association (APGJSA), the 10-gramme gold bar was traded at Rs185,871, reflecting a rise of Rs943.

This surge follows a Rs900 increase per tola reported on Thursday, emphasising the volatile nature of the precious metal’s market.

The international gold rate, carrying a $20 premium, settled at $2,067 per ounce on Friday. This signifies a $10 surge in the global market, as reported by APGJSA.

The association plays a crucial role in tracking and disseminating real-time information about the gem and jewellery industry in Pakistan.

Meanwhile, silver rates remained steady at Rs2,570 per tola, maintaining a sense of stability in the precious metals market despite the notable fluctuations in gold prices.

Read next: PKR closes week at Rs279.19 versus US dollar