KARACHI: Gold prices in the local market witnessed a sharp increase on Thursday, rising by Rs 1,400 per tola as domestic rates continue to track a volatile international market.
According to the All Pakistan Gems and Jewellers Sarafa Association, the price of 24-carat gold settled at Rs 504,862 per tola. Similarly, the price for 10 grams of gold saw an upward shift of Rs 1,200, reaching Rs 432,837.
The precious metal also gained momentum on the global stage, where the price per ounce rose by $14 to reach $4,825. In tandem with gold, silver prices in the local market recorded a significant jump of Rs 110, bringing the new rate to Rs 8,514 per tola. Market analysts suggest that the ongoing fluctuations in the global economy and the recent strengthening of international bullion have directly contributed to the increased cost of precious metals across Pakistan.
