Gold prices in Pakistan experienced a modest increase on Friday, mirroring fluctuations in the international market. In trading over the last 18 hours, the price of gold per tola in the local market rose to Rs. 447,840, marking an increase of Rs. 720 from the day’s start, according to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA). This climb reflects a broader trend seen globally as market dynamics shift.
At the start of the day, gold prices per tola were recorded at Rs. 447,120. The market witnessed a steady climb, peaking at Rs. 449,840, highlighting increased investor interest and demand. Similarly, the international gold rate saw an upward movement, reaching $4,217.14 per ounce, up by $11.28 from its initial value of $4,205.86. The gold market’s high during this period was noted at $4,259.60, while the lowest point was $4,194.47.
Silver prices also reflected a positive trend in the local market. The rate per tola increased by Rs. 1.66, reaching Rs. 58.65. This rise underscores a consistent demand for precious metals as investors seek safe havens amid global economic shifts.
Globally, the gold market continues to be influenced by various economic indicators, including currency fluctuations and geopolitical tensions. The APGJSA noted that these factors contribute significantly to the volatility seen in the gold market. As a result, local traders and investors are closely monitoring these developments to make informed decisions.
Overall, the Pakistani gold market remains responsive to international trends, with current conditions favoring an upward trajectory. As the situation evolves, stakeholders will be keeping a keen eye on further developments in both the local and global markets.
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