Gold prices in Pakistan have surged once again, continuing their volatile trend amid global market uncertainty.
According to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), the price of 24-karat gold per tola climbed by Rs. 3,700, reaching Rs. 423,062 on Thursday.
The 10-gram rate also rose sharply, increasing by Rs. 3,112 to settle at Rs. 362,707.
📈 Local Gold Market Sees Strong Recovery
Just a day earlier, gold had dipped by Rs. 1,000 per tola, closing at Rs. 419,362. However, the market rebounded strongly as global trends turned favorable for bullion investors.
Traders attribute the spike to a weaker US dollar, geopolitical tensions, and renewed investor demand for safe-haven assets.
🌍 Global Gold Prices Edge Higher
On the international stage, gold prices also saw an upward move.
As per APGJSA’s data, the global rate stood at $4,007 per ounce (including a $20 premium), up by $37 during the day.
Silver prices in Pakistan followed suit, increasing by Rs. 90 per tola to Rs. 5,112.
Globally, spot gold rose by 0.1% to $3,986.23 per ounce, while US gold futures inched up to $3,994.60. Despite this uptick, gold remains about 9% lower than its record high of $4,381.21 reached on October 20.
💬 Market Outlook
Analysts predict continued fluctuations as investors watch the US economic indicators and potential government shutdown developments. A weaker dollar and uncertain economic outlook could keep gold prices elevated in the short term.
