Gold prices in Pakistan surged on Saturday, rising Rs2,300 per tola amid gains in the international market. The local gold rate reached Rs428,862 per tola, while 10-gram gold sold at Rs367,680, up Rs1,972. The All-Pakistan Gems and Jewellers Sarafa Association (APGJSA) confirmed the increase, reflecting global trends.
On Friday, gold had remained stable at Rs426,562 per tola, showing a sharp jump in just one day. International gold prices climbed $23 to $4,065 per ounce, with a premium of $20. Analysts linked the surge to stronger global demand and safe-haven buying amid market uncertainties.
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Silver prices also rose, gaining Rs48 per tola to reach Rs5,270. Traders said higher gold rates often lift silver prices due to market correlation. The demand for precious metals remains robust as investors seek protection against inflation and currency fluctuations.
Jewellers advised buyers and investors to monitor rates closely, as further international gains could push local prices higher. They noted that festival and wedding season demand may also contribute to rising gold sales in Pakistan.
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Market watchers said gold could continue trending upward if global economic conditions remain uncertain. They also highlighted that currency fluctuations, import costs, and international supply-demand dynamics will influence future prices.