Gold prices see major increase in Pakistan

Gold prices in Pakistan saw a major increase on Thursday, making the precious metal less affordable for many buyers.

According to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), the price of gold per tola jumped by Rs3,700 to Rs423,062.

Similarly, 10-gram gold was sold at Rs362,707, up by Rs3,112. This means that the cost of one gram of gold in the local market now stands at approximately Rs36,270.

The local rise mirrors global trends, with international gold prices inching higher amid market uncertainties.

Spot gold traded at $3,986.23 per ounce early Thursday, marking a 0.1 percent gain, while US gold futures for December delivery increased to $3,994.60 per ounce. Analysts say the slight decline of the US dollar from a four-month high and investor concerns over the US economic outlook, especially in the context of a government shutdown, are contributing to the gains.

Previous gold rate in Pakistan

In contrast, Wednesday had seen a decline in local gold prices, with per tola rates falling by Rs1,000 to Rs419,362. The recent surge has reversed that trend, offering relief to investors but adding pressure on those planning to buy gold for weddings or other occasions.

Silver prices also moved higher, with per tola rates rising by Rs90 to reach Rs5,112. Globally, bullion has retreated around 9 percent since reaching a record high of $4,381.21 on October 20, yet Thursday’s gains suggest a temporary stabilisation.

For investors who had purchased gold earlier, the rise may come as a welcome development. However, for families planning weddings or traditional celebrations, the increase in prices could strain budgets further, underscoring the persistent volatility in the market.