Gold prices record over Rs5,000 increase in local market

Following a slight decline of Rs1,000 on Thursday, gold prices surged sharply on Friday, with the rate of 24-karat gold per tola increasing by Rs5,300 to reach Rs424,162.

Similarly, the price of 10 grams of 24-karat gold rose by Rs4,544 to Rs363,650.

Meanwhile, silver prices, which had previously remained stable, recorded a sharp increase today, with per tola silver rising by Rs158 to Rs5,192 while 10 grams of silver gaining Rs136 to reach Rs4,451.

The fluctuations in gold prices are primarily influenced by market trends, global monetary conditions, and investor sentiment.

The global price of gold jumped sharply, rising by $53 per ounce to reach $4,018, while local markets, including Pakistan’s bullion trade, mirrored the trend with significant gains in per tola and per 10-gram rates.

This renewed upward movement in gold reflects not only changing global monetary conditions but also heightened investor caution amid ongoing economic uncertainties.