Gold prices in Pakistan experienced a significant upswing on Friday, closely following a remarkable surge in the global bullion market. This upward trend was driven by a sharp increase in international gold rates, which saw spot gold prices jump by $122 per ounce, reaching an unprecedented high of $4,185.
The global momentum had a direct impact on Pakistan’s domestic bullion market, where the price of 24-karat gold per tola (11.66 grams) rose dramatically by Rs12,200. This brought the price to Rs440,936 in Karachi and other major urban centers across the country. Similarly, the cost of 10-gram gold also climbed substantially, increasing by Rs10,459 to reach Rs378,031.
Market experts point to growing economic uncertainties worldwide and increased institutional demand as key factors fueling this relentless rise in gold prices. These elements have collectively pushed international gold rates to record-breaking levels, prompting local markets to adjust accordingly. Alongside gold, silver prices also saw notable gains, reflecting the broader trend in precious metals.
Specifically, silver prices per tola increased by Rs319, settling at Rs6,764, while the 10-gram silver price rose by Rs274 to close at Rs5,799. This simultaneous rise in both gold and silver highlights the ongoing investor preference for safe-haven assets amid volatile economic conditions globally.
