KEY POINTS
- Per-tola gold rises to Rs423,062, up Rs3,700 during the day
- 10-gram gold settles at Rs362,707, gaining Rs3,112
- Silver price increases by Rs90 per tola to Rs5,112
- Global bullion gains as dollar weakens amid US fiscal uncertainty
ISLAMABAD: Gold prices in Pakistan surged on Thursday in tandem with a rebound in international bullion markets, with the local rate for 24-karat gold per tola climbing by Rs 3,700 to reach Rs 423,062.
According to data released by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), the price of 10-gram gold also advanced by Rs 3,112 to close at Rs 362,707. The association reported that silver prices increased by Rs 90 per tola to reach Rs 5,112.
The rise in domestic bullion followed a similar uptrend internationally, where spot gold gained as the US dollar slipped from a four-month high amid investor uncertainty linked to the ongoing US government shutdown.
The international rate, as per APGJSA, stood at $4,007 per ounce (including a $20 premium), with $37 increase in a day.
Analysts said the dollar’s retreat and persistent geopolitical risks have renewed safe-haven demand, helping gold recover some ground after recent losses.
Bullion has dropped about nine per cent since touching a record high of $4,381.21 on October 20.
Market participants noted that the current stability of the Pakistani rupee, combined with rising international prices, continues to influence domestic gold rates.
However, local jewellers expect fluctuations to persist in response to global cues.
