Gold prices in Pakistan jump sharply for the third time this week

Gold prices in Pakistan saw a sharp increase on Thursday, with 24-karat gold rising to Rs443,062 per tola, up Rs8,300 from the previous day. The price of 24-karat gold per 10-gram also surged by Rs7,116, reaching Rs379,854, according to the All-Pakistan Gems and Jewelers Sarafa Association (APGJSA).

22-karat gold was not far behind, with its rate quoted at Rs348,212 per 10-gram, reflecting growing demand in the local market. Silver prices also strengthened, with 24-karat silver being sold at Rs5,662 per tola, up Rs228, and Rs4,854 per 10-gram, up Rs196.

The gains in domestic gold and silver markets mirror global trends. Internationally, gold has risen for the fifth consecutive session, hitting its highest level in more than three weeks. Spot gold was trading at $4,207.24 per ounce, while U.S. December gold futures remained steady at $4,211 per ounce. Analysts attribute the rally to a weaker dollar, expectations of further interest rate cuts, and continued central bank buying.

Jigar Trivedi, senior research analyst at Reliance Securities, noted that while gold may see short-term consolidation after rapid gains, the broader outlook remains positive. “There is potential for gold to exceed $4,300 per ounce by year-end if real yields remain low and central banks maintain supportive policies,” he said.

The latest surge comes after U.S. President Donald Trump signed legislation to end the longest government shutdown in the country’s history, which began on October 1. The shutdown had delayed critical economic data releases, including payroll and inflation reports, and its conclusion is expected to provide fresh momentum to global financial markets, including precious metals.

Investors in Pakistan have responded quickly to these developments, with local traders reporting strong demand for both gold and silver. Market watchers suggest that sustained global factors combined with domestic interest could keep prices elevated in the coming weeks.