Gold prices surge sharply across Pakistan

The price of gold increased by Rs24,000 per tola, taking the new rate to Rs514,362 per tola nationwide.

KARACHI: After a period of continuous decline, gold prices have surged sharply across Pakistan, rising by tens of thousands of rupees in a single day.

According to the All Pakistan Gems and Jewellers Association (APGJA), the price of gold increased by Rs24,000 per tola, taking the new rate to Rs514,362 per tola nationwide.

Similarly, the price of 10 grams of gold rose by Rs20,576, reaching Rs440,982.

Meanwhile, in the international market, gold prices also recorded a significant jump, increasing by $240 to $4,916 per ounce.

Market analysts attribute the sharp rise to global economic uncertainties and fluctuations in international bullion markets, which continue to influence local gold prices.

on the other hand, silver prices witnessed a notable increase in the local market on Tuesday, following the upward trend in precious metals.

According to market sources, the price of one tola silver rose by Rs741, reaching Rs9,146. Meanwhile, the price of 10 grams of silver increased by Rs636 to settle at Rs7,841.

Traders said the rise in silver prices is in line with global market trends and growing demand, which continue to impact domestic rates.