Gold prices in Pakistan saw a sharp increase on Saturday, mirroring the global trend. According to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), the price of gold per tola rose by Rs3,100, reaching Rs354,100.
Similarly, the price of 10 grams of gold also went up, increasing by Rs2,658 to settle at Rs303,583. The rise comes after a notable gain of Rs6,600 per tola on Thursday, when the price had reached Rs349,400.
The increase in local prices follows an uptick in the international gold market. On Thursday, the global gold price stood at $3,291 per ounce, including a $20 premium, despite a minor decline of $19 that day.
Experts attribute the ongoing volatility to a mix of global inflation fears, interest rate expectations, and geopolitical tensions, all of which continue to influence investor behavior.
Jewellers expect prices to remain unpredictable in the short term, urging customers to follow market trends closely before making major purchases.