KARACHI: Gold prices recorded another sharp increase in the local market on Saturday, rising by Rs11,700 per tola, as gains in the international bullion market encouraged fresh buying after recent volatility.
According to the All Pakistan Sarafa Gems and Jewellers Association (APSGJA), the price of 24-carat gold increased to Rs519,462 per tola. The price of 10-gram gold also moved higher, gaining Rs10,030 to settle at Rs445,354.
Bullion traders said the rebound reflected renewed investor interest following a series of sharp ups and downs over the past two weeks. Internationally, gold prices rose by $117 to $4,967 per ounce, supporting higher domestic rates.
Market participants noted that gold prices in Pakistan closely follow global trends and are typically adjusted with a premium of around $20 per ounce to account for exchange rate movements, import costs and local market conditions. They added that short-term trading and speculative activity have remained elevated, contributing to frequent price swings.
Silver prices also followed gold’s upward trend. The metal rose by Rs444 to Rs8,269 per tola, while the price of 10-gram silver increased by Rs381 to Rs7,089.
