ISLAMABAD: Gold prices in Pakistan continued upward trend on Saturday, reflecting a global trend in the precious metal’s market.
According to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), the price of gold per tola surged by Rs 1,000, reaching Rs 252,500. The price for 10 grams of gold also saw a notable increase of Rs 857, now standing at Rs 216,478.
This latest surge follows an upward trend in the international gold market, where the price of gold per ounce rose by US$13 to reach US$2,373. This global price increase has directly influenced the local market, contributing to the heightened costs for consumers in Pakistan.
On Friday, gold prices had already seen a significant rise. The cost per tola had increased by Rs 1,000, settling at Rs 251,500. Similarly, the price for 10 grams of gold had gone up by Rs 858, reaching Rs 215,621. Despite these increases, silver prices have remained stable. The price of silver per tola stayed steady at Rs 2,860, while the price for 10 grams of silver remained unchanged at Rs 2,451.
The global increase in gold prices is attributed to several factors, including economic uncertainties and market speculation, which continue to drive up demand and value for the precious metal. This trend has had a ripple effect on local markets.
