Gold prices have increased in the local market on Thursday, creating a new situation for investors. Rs 1,523 per tola hike recorded on Thursday. According to the Sarafa Association.
The All Pakistan Sarafa Association reported that the price of gold has increased by Rs 1,523 per tola in the local market, bringing it up to Rs 469,285.
Similarly, the price of 10 grams of gold has surged by Rs 1,305, now standing at Rs 422,335. Experts indicate that fluctuations in the global market are contributing to this upward trend in gold prices at the local level.
The fluctuation in gold prices is linked to ongoing peace talks between the United States and Iran, raising hopes for an end to the war.
| Gold Unit | Current Price (Rs.) | Increase (Rs.) |
|---|---|---|
| Per Tola | 469,285 | 1,523 |
| Per 10 Grams | 422,335 | 1,305 |
The gold prices had seen a drop on Wednesday as well. The price of gold per tola in the country has fallen by Rs 8,600 due to the global market amid the delay in the Iran-US deal.
According to the All Pakistan Gems and Jewellers Association, after this decline, the price of gold per tola in the country has fallen to Rs 467,762. The price of 10 grams of gold has decreased by Rs 7,373 to Rs 401,030. Gold per ounce has fallen by $ 86 in the international market to $ 4,454. The price of silver per tola in the local market has also fallen by Rs 259 to Rs 7,894.
The sharp decline came after gold hit multi-week highs earlier this month. Analysts say profit-taking by traders and a stronger dollar contributed to the downward pressure on the precious metal. Market experts added that easing geopolitical tensions and expectations of stable interest rates also reduced demand for gold as a hedge. In local markets, the drop was felt across major trading hubs including Karachi, Lahore, and Peshawar. Jewellers reported lower buying activity as customers waited for prices to stabilise.
We apologise for the previously published report about the rate drop; this article has now been corrected.
