Gold prices jump in Pakistan as international rates rise

KARACHI: Gold prices in Pakistan extended gains on Tuesday, rising by thousands of rupees per tola in line with increases in the international bullion market, traders said.

In the local market, the price of gold per tola rose by Rs3,400 to Rs539,962, while the price for 10 grams increased by Rs2,915 to Rs462,930, according to data released by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA).

Yesterday, the price of 24-carat gold per tola stood at Rs 534,562, reflecting gains driven by rising global demand and market volatility.

Internationally, gold prices continued their upward trajectory today, with global bullion markets recording a sharp increase of $107 per ounce, pushing the price past the $5,200 mark. This follows yesterday’s gain of $30 per ounce, when gold was trading at $5,138.

Silver prices also tracked the upward trend. The price of silver per tola increased by Rs192 to Rs9,286, while the rate for 10 grams rose by Rs165 to Rs7,961.

Bullion dealers said domestic prices typically mirror movements in international markets, adjusted for the rupee-dollar exchange rate and local demand.