Gold prices in Pakistan saw a significant increase on Friday, following a rise in international markets. The price of gold per tola climbed by Rs2,500 to reach Rs280,500, according to the All-Pakistan Gems and Jewelers Sarafa Association (APGJSA). Similarly, 10-gram gold was priced at Rs240,483, marking an increase of Rs2,143.
The international gold rate also rose, reaching $2,693 per ounce (including a $20 premium), with a daily increase of $25. On Thursday, gold per tola had already surged by Rs3,700, settling at Rs278,000.
Meanwhile, silver prices in the local market remained unchanged at Rs3,450 per tola.
Last month, gold hit an all-time high of Rs287,900 per tola in Pakistan. On the global front, gold is on track for its best weekly performance in a year, driven by safe-haven demand amid heightened tensions in the Russia-Ukraine war and expectations of U.S. interest rate cuts. Spot gold was up 0.7%, trading at $2,688.70 per ounce, with a weekly gain of nearly 5%, the strongest since October 2023.
