Gold prices increased once again in both the local and international markets on Thursday, according to the All Pakistan Sarafa Gems and Jewellers Association.
The latest surge pushed the price of 24-karat gold higher by Rs1,000 per tola, reflecting continued volatility in global bullion markets.
According to the association, the price of 24-karat gold per tola rose to Rs492,362 in Pakistan’s local market.
Meanwhile, the price of 10 grams of 24-karat gold increased by Rs858, reaching Rs422,121.
Jewellers said the increase followed a rise in international gold prices and fluctuations in interbank exchange rates.
International gold prices
In the global bullion market, gold prices increased by $10 per ounce.
Following the latest increase, the international price of gold reached $4,700 per ounce, the association stated.
Market analysts say movements in the international market continue to directly impact local gold prices in Pakistan.
Silver prices also register increase
Silver prices also witnessed an upward trend in the local market.
The price of silver per tola increased by Rs65, taking the new rate to Rs9,204.
Traders noted that precious metals continue to remain sensitive to global economic uncertainty and currency market movements.
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