Key Points:
- 24-carat gold soars by Rs 5,300 per tola to Rs 424,162, according to the All Pakistan Gems and Jewellers Sarafa Association
- 10-gram 24K gold rate surged to Rs 363,650, while 22K gold stands around Rs 333,357 per 10 grams
- International spot gold hovers near US$4,018 per ounce, supported by safe-haven demand
- Local dealers expect volatility ahead of the wedding season amid rupee stability and global uncertainty.
ISLAMABAD: Gold prices in Pakistan climbed sharply on Friday, following a renewed uptrend in global bullion markets.
According to the All Pakistan Gems and Jewellers Sarafa Association (APGJSA), the price of 24-carat gold increased by Rs 5,300 per tola to close at Rs 424,162, while the rate for 10 grams of 24K gold rose by Rs 4,544 to Rs 363,650. The 22-carat rate was recorded at Rs 333,357 per 10 grams.
Dealers said the upward movement mirrors the international market, where spot gold was quoted around US$4,018 per ounce, as reported by Reuters. The rise came amid renewed investor interest in safe-haven assets following mixed global economic signals and expectations of policy adjustments by the US Federal Reserve.
Bullion traders in Karachi’s Sarafa Bazaar noted that the gold price appreciation has coincided with a relatively steady rupee and stable oil prices, which helped moderate the impact of imported inflation. “Global uncertainty and currency movements continue to dictate our domestic gold trend,” one trader said, adding that buying momentum typically intensifies before the winter wedding season.
Despite the recent surge, jewellers expect continued price swings driven by shifts in international markets, rupee-dollar parity, and regional jewellery demand.
