Significant Surge in Precious Metal Prices
The precious metals market in Pakistan witnessed a substantial upward trend on Saturday, with gold prices experiencing a sharp increase. The value of 24-karat gold climbed significantly, marking a notable day for investors and consumers tracking the bullion market.
Detailed Breakdown of Domestic Gold Rates
According to the authoritative All Pakistan Sarafa Gems and Jewellers Association, the price of per tola of 24-karat gold escalated by Rs5,300. This surge pushed its value to Rs444,162, up from the previous day's closing of Rs438,862.
For those dealing in smaller quantities, the price of 10 grams of 24-karat gold was not left behind. It registered an increase of Rs4,544, settling at Rs380,797 compared to Rs376,253 on Friday.
The market for 22-karat gold also followed this bullish trend. The rate for 10 grams of 22-karat gold rose by Rs4,165, achieving a new closing price of Rs349,076 against the prior day's Rs344,911.
International Market and Silver Performance
The upward momentum was not confined to the domestic arena. In the international market, the price of gold saw a considerable rise of $53. This jump took the international rate to $4,218 from $4,165 recorded on the previous day.
Meanwhile, silver also demonstrated positive movement in both local and global markets. Within Pakistan, the price of per tola silver increased by Rs267, reaching Rs5,909 from Rs5,642.
Similarly, the price of 10 grams of silver went up by Rs229, closing at Rs5,066 as opposed to Rs4,837 the day before. On the world stage, international silver prices experienced an uptick of $2.67, rising to $56.37 compared to $53.70 on Friday.
This synchronized rise in both gold and silver prices, domestically and internationally, indicates a strong trading day for precious metals, impacting investment portfolios and jewelry markets across the country.
