Gold Prices Soar in Pakistan as Silver Edges Down
KARACHI: Gold prices in Pakistan witnessed a sharp rise on Saturday, with local markets recording an increase of Rs7,000 per tola. Following the surge, one tola of gold is now priced at Rs526,962, while 10 grams of gold rose by Rs6,001 to Rs451,785.
The increase mirrors international market trends, where gold gained $70 per ounce, reaching $5,042. Analysts attribute the rise to stronger global demand and investor interest in precious metals amid economic uncertainties.
Silver, in contrast, experienced a slight decline. In the domestic market, one tola of silver dropped by Rs105 to Rs8,219, while 10 grams fell by Rs90, now costing Rs7,046. Globally, silver is trading at $77.35 per ounce.
Market experts advise investors to monitor global trends and currency fluctuations, as these factors continue to influence local gold and silver prices. Despite silver’s minor drop, gold remains a preferred hedge against inflation and economic volatility in Pakistan.
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