In a striking development for investors and traders, gold prices in Pakistan skyrocketed on Tuesday, aligning with a robust rally in the international market. The surge has sparked widespread interest among market watchers and consumers alike.
According to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), the price of gold per tola in the domestic market jumped by Rs2,100, reaching an impressive Rs349,200. Likewise, the cost of 10 grams of gold rose by Rs1,800, settling at Rs299,382.
The international market echoed this upward momentum, with gold prices climbing to $3,310 per ounce, inclusive of a $20 premium. This reflects a significant $21 increase within a single day, as reported by the APGJSA.
This sharp rise follows a brief dip in the local market on Monday, when gold prices per tola had declined by Rs1,600 to Rs347,100. The swift recovery underscores the volatile yet resilient nature of the gold market.
In contrast, silver prices in Pakistan remained stable, maintaining their value at Rs3,497 per tola, unaffected by the gold market’s fluctuations.
Analysts attribute the global surge to a combination of economic uncertainties and heightened demand for safe-haven assets. As investors continue to monitor these trends, the gold market remains a focal point for both local and international stakeholders.
