Gold prices in Pakistan surged to a new all-time high on Friday, with the price of 24-carat gold per tola rising by Rs 4,700 to settle at Rs 314,000, according to the All Pakistan Sarafa Gems and Jewellers Association (APSGJA).
The price of 10-gram 24-carat gold also saw a sharp increase of Rs 4,030, reaching Rs 269,204, while 22-carat gold per 10 grams was priced at Rs 246,779 after an upward adjustment of Rs 3,694.
International gold prices continued their upward trend, gaining $46 to reach $2,988 per ounce. Analysts attribute the rise to global inflationary concerns and increased central bank gold purchases, which have pushed demand higher.
Meanwhile, silver prices also recorded a significant increase, with 24-carat silver per tola rising by Rs 90 to reach Rs 3,530, while the price of 10-gram silver increased by Rs77 to settle at Rs 3,026. The international silver rate climbed by $0.86, reaching $33.86 per ounce.
Experts suggest that the ongoing global economic uncertainty and currency fluctuations are fueling the continued rise in gold prices. With demand expected to remain strong, further increases in gold rates cannot be ruled out in the coming weeks.
