KEY POINTS
- 24‑karat gold per tola rises Rs 8,300 to Rs 443,062.
- 10‑gram gold rate climbs Rs 7,116 to Rs 379,854.
- International gold hits US$4,207 per ounce amid safe-haven demand.
- Silver also gains, rising Rs 228 to Rs 5,662 per tola.
ISLAMABAD: According to the All Pakistan Gems and Jewellers Sarafa Association (APGSJA), the local 24‑karat gold price jumped Rs 8,300 in a single day to close at Rs 443,062 per tola.
The 10‑gram rate rose by Rs 7,116 to Rs 379,854. APSGJA Secretary Hafiz Muhammad Jamil told Samaa TV that the rally was “primarily driven by the rise in international gold prices and heightened local buying ahead of festivals and weddings.”
Global factors also influenced local prices. Data from the World Gold Council showed gold rising by around US$83 to US$4,207 per ounce, reflecting a continuation of safe-haven buying amid economic uncertainty, according to analysts cited by Daily Times.
“Investors are turning to gold to hedge against currency depreciation and market volatility,” said economist Dr. Imran Shah.
Local dealers confirmed that the weaker Pakistani rupee amplified the impact of higher international bullion rates. A Karachi-based bullion trader told Business Recorder, “Import-adjusted costs have increased, prompting both investors and jewellery buyers to secure gold now before prices rise further.”
Silver followed a similar trend, with the per tola rate up Rs 228 to Rs 5,662, according to APSGJA data. Market observers noted that seasonal demand, combined with international gains, continues to underpin the local precious metals market.
While the rally offers short-term gains for investors, dealers cautioned that further upward pressure cannot be ruled out unless the international price of gold softens or the Pakistani rupee strengthens.
