Gold hits fresh high in Pakistan amid global price rally

KARACHI: Gold prices in Pakistan surged on Saturday, with the price of 24-karat gold per tola rising by Rs4,500 to around Rs506,000 in the local bullion market.

The price of 10 grams of 24-karat gold increased by Rs3,858 to approximately Rs433,820, according to market data.

Data from Sarmaaya showed that 24-karat gold was priced at about Rs43,382 per gram, while 22-karat gold stood at Rs463,833 per tola and Rs39,766.83 per gram.

Meanwhile, 21-karat gold was priced at Rs442,750 per tola and Rs37,959.25 per gram, and 18-karat gold at Rs379,500 per tola.

On an ounce basis, gold prices were recorded at Rs1,229,580 for 24-karat, reflecting broader trends in international markets.

Traders said the rally in domestic gold prices tracked gains in global markets, where investors have been shifting towards safe-haven assets amid ongoing economic and geopolitical uncertainty.

They added that fluctuations in the Pakistani rupee against the US dollar have also contributed to volatility in local gold rates.

Bullion dealers said prices are expected to remain sensitive to international trends and currency movements in the coming days.