Gold prices in Pakistan rise following global market surge

Gold and silver prices in Pakistan have experienced significant volatility driven by fluctuations in the international bullion market. Following a recent surge in global prices, where gold rose by $79 per ounce to reach $4,347, local markets saw a sharp increase. The price of gold per tola in Pakistan rose by 7,900 rupees, reaching 457,236 rupees, while the price for 10 grams of gold increased by 6,773 rupees to 392,006 rupees.

Silver prices also trended upward, with silver per tola increasing by 140 rupees to 6,942 rupees. These movements follow a period of instability where prices had previously dipped due to lower global demand.

Market analysts note that local gold rates are influenced by several factors, including the supply and demand balance, the value of the Pakistani rupee against the US dollar, global market trends, interest rates, and investor sentiment. In Pakistan, gold is often viewed as a hedge against inflation and economic or political uncertainty.