The All Pakistan Sarafa Gems and Jewellers Association reported a sharp increase in domestic gold prices on Thursday. The price of 24-karat gold per tola rose by Rs3,600 to settle at Rs433,836. Similarly, the price of 10 grams of 24-karat gold increased by Rs3,086 to Rs371,944, while 10 grams of 22-karat gold went up by Rs2,829 to Rs340,961.
International Market Trends
In the international market, gold prices rose by $36 to settle at $4,113 per ounce. This global uptick contributed to the domestic surge. Meanwhile, silver prices remained stable both locally and internationally. Per tola silver stayed unchanged at Rs6,421, and 10 grams of silver remained at Rs5,504. Internationally, silver held steady at $59.42 per ounce.
Market Implications
The rise in gold prices reflects ongoing global economic uncertainties and investor demand for safe-haven assets. The association's data underscores the direct impact of international market movements on local bullion rates. No changes were reported for silver, indicating divergent trends between the two precious metals.
