Gold prices in Pakistan continued their upward trend on Friday, marking a second consecutive day of gains. The price of one tola rose by Rs5,200, reaching Rs477,136 as per the All Pakistan Gems and Jewellers Sarafa Association (APGJSA) rates. This followed a significant surge of Rs13,700 per tola on Thursday.
On Wednesday, gold prices had declined by Rs3,700, closing at Rs458,236, before rebounding sharply over the next two days. The price of 10 grammes of gold also saw an increase of Rs4,458 on Friday, climbing to Rs409,067.
The fluctuations in local gold prices mirror the volatility seen in the international bullion market throughout the week. On Thursday, the price per tola jumped by Rs13,700 to Rs471,936, while 10 grammes rose by Rs11,746 to Rs404,609. Internationally, gold prices surged by $137 to reach $4,495 per ounce on the same day.
After the midweek dip, the domestic market experienced a sharp reversal. Gold prices fell from Rs461,936 on Tuesday to Rs458,236 on Wednesday but then increased sharply on Thursday and Friday, reflecting global trends. On Friday, the international price further increased by $52 to $4,547 per ounce.
The steady rise in global bullion prices has been quickly mirrored in Pakistan, where gold rates typically respond promptly to international market movements. Gold remains a preferred safe-haven asset, especially during periods of economic uncertainty, inflation worries, geopolitical tensions, and shifting monetary policy expectations.
This recent rally underscores the ongoing volatility in both domestic and international gold markets. Investors continue to monitor global economic indicators, currency fluctuations, and central bank policy decisions closely as these factors heavily influence bullion prices.
