Gold price witnessed a sharp surge in Pakistan on Friday, following a strong rally in international bullion markets, pushing the precious metal close to the Rs. 4.5 lakh per tola mark.
According to the All Pakistan Sarafa Gems and Jewellers Association (APSGJA), the price of 24-karat gold per tola increased by Rs. 12,200, reaching Rs. 440,936. The price of 10 grams of gold also rose significantly by Rs. 10,459, settling at Rs. 378,031.
The latest increase comes just a day after gold gained Rs. 9,100 per tola on Thursday, when it closed at Rs. 428,736. The back-to-back gains reflect continued volatility in both domestic and global precious metal markets.
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In the international market, gold prices recorded a major jump of $122 per ounce, climbing to $4,185 per ounce. The global rally has been driven by increased investor demand for safe-haven assets amid economic uncertainty and changing market conditions, which directly influenced local prices in Pakistan.
Silver prices also moved higher on Friday. The price of silver increased by Rs. 319 per tola, taking it to Rs. 6,764 per tola, mirroring the upward trend seen in gold.
Jewellers and market analysts say local gold prices generally follow international market movements while also reflecting fluctuations in the Pakistani rupee against the US dollar. As global bullion prices continue to remain volatile, further changes in domestic gold rates are expected in the coming days.
The latest rally has made gold significantly more expensive for consumers planning weddings, jewellery purchases, or investment in precious metals. However, investors holding gold have benefited from the sharp appreciation in value.
Market participants will continue to monitor international economic developments and currency movements, as these factors are expected to play a key role in determining the direction of gold and silver prices in Pakistan over the coming weeks.
