Gold prices in Pakistan hit a record high on Thursday as international gold rates surge. The bullion market had been closed during the Eid holidays but resumed activity as prices climbed sharply. The price of gold per tola rose to Rs325,500, an increase of Rs500 in just one day.
In the 10-gram segment, gold was sold at Rs279,063, reflecting an increase of Rs428, as reported by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA).
The surge in gold prices in Pakistan follows a rise in international gold rates. Globally, the price of gold reached $3,089 per ounce, marking an increase of $5 during the day. The global rise in gold prices has contributed to the record highs observed in Pakistan’s bullion market.
Despite the significant increase in gold prices, the price of silver remained stable, staying at Rs3,580 per tola. The stability in silver prices contrasts with the sharp rise in gold prices, which has been fueled by factors in the global market.
Gold’s price hike in Pakistan is a reflection of the global market’s performance, which often impacts local prices. The bullion market’s response to international trends has become more pronounced, as gold becomes an increasingly attractive investment option in times of economic uncertainty. With the rising prices, gold is now seen as a safe haven for investors looking to protect their wealth from market fluctuations.
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