Gold prices in Pakistan saw a sharp increase of Rs. 2,000 per tola on Friday. The All-Sindh Sarafa Jewellers Association reported that prices climbed to Rs. 278,800 per tola. The hike follows a sudden drop in the previous day’s rates, reflecting the fluctuating nature of the precious metals market.
The price for 10 grams of gold went up by Rs. 1,715. This brings the 10-gram rate to Rs. 239,026 in local markets. The recent surge indicates continued strong demand for gold in Pakistan, despite recent price volatility.
22-Karat Gold Price Update
For those who prefer 22-karat gold, the price now stands at Rs. 219,107 per 10 grams. This grade remains a popular choice among buyers, often used in jewelry and traditional ornaments.
Global Gold Prices See Rise
On the international front, gold prices also rose. The price jumped by $21, reaching $2,683 per ounce. This increase on the global stage is often a significant factor affecting local markets, especially in Pakistan, where international trends are closely followed.
Silver Prices Hold Steady
While gold prices saw a marked increase, silver prices remained stable. The current rate for silver is Rs. 3,300 per tola, showing no change from previous trading days. This stability in silver prices contrasts with the more unpredictable gold market.
Market Reactions and Trends
Jewellers and market experts note that the rise in gold prices may impact consumer behavior, particularly in wedding season, when demand for gold usually peaks. Many consumers may hesitate due to the high costs, while others might rush to buy before further increases.
As international prices influence local rates, experts anticipate continued fluctuations.
Follow Day News on Google News, Instagram, YouTube, Facebook, Whats App, and TikTok for latest updates