Gold prices surged to unprecedented levels in Pakistan's local bullion market on Friday, driven by robust gains in the international market. This significant increase has captured the attention of investors and consumers alike, highlighting ongoing economic trends.
Record-Breaking Gold Prices
The price of 24-karat gold per tola jumped by Rs9,100 to reach a new all-time high of Rs514,662. According to the All Pakistan Sarafa Gems and Jewellers Association, this marks a substantial rise in the precious metal's value.
Detailed Price Movements
Further breakdowns show that the price of 10 grams of 24-karat gold rose by Rs7,802 to Rs441,239. Meanwhile, 10 grams of 22-karat gold increased by Rs7,152 to settle at Rs404,483. These figures underscore the widespread impact across different gold purities.
Silver Prices Also Climb
Silver prices recorded notable gains as well. The price of 24-karat silver per tola climbed by Rs372 to Rs10,275, and the price of 10 grams of silver rose by Rs319 to Rs8,809. This parallel increase in silver highlights broader trends in the precious metals sector.
International Market Influence
On the global front, gold prices surged by $91 per ounce to hit a fresh record of $4,923, while silver prices jumped by $3.72 to reach $98.00 per ounce, as reported by the association. These international movements have directly fueled the domestic price hikes.
This surge in gold and silver prices comes amid discussions on economic stability and sustained growth, as recently highlighted in Senate proceedings. The bullion market's performance continues to be a key indicator of Pakistan's economic landscape.
