Gold prices surge in Pakistan following global market gains

KARACHI: Gold prices in Pakistan have climbed sharply once again, continuing the recent upward trend in the bullion market.

According to local dealers, the price of gold per tola has increased by Rs 5,300, bringing the new rate to Rs 524,762. Similarly, 10 grams of gold has risen by Rs 4,544, now costing Rs 449,898.

The surge mirrors movements in the international market, where an ounce of gold has become $53 more expensive, reaching $5,020.

Silver prices have also seen a rise, with the cost per tola increasing by Rs 346 to Rs 8,615.

This follows a period of heightened volatility in both domestic and global markets. Last week, gold prices had jumped significantly after a brief pause, with 24-carat gold climbing Rs 11,700 per tola to Rs 519,462, and international gold hitting $4,967 per ounce. Silver also surged last week, with per tola rates rising to Rs 8,269.

Analysts attribute the ongoing fluctuations to a combination of global bullion trends and currency market movements, making precious metals an increasingly dynamic segment for investors.