Gold and silver prices surge in Pakistan following global rise

Gold and silver prices in Pakistan rose sharply on Tuesday, following gains in the international market.

According to the All Pakistan Sarafa, Gems and Jewellers Association, the price of per-tola 24-karat gold increased by Rs24,000, reaching Rs514,362, while 10 grams of gold rose to Rs440,982 after a rise of Rs20,576.

In the global market, gold surged by $240, reaching $4,916 per ounce.

Silver prices also increased, with one tola reaching Rs9,146, up Rs741 from the previous rate.

This rise comes after a sharp decline on Monday, when per-tola gold fell by Rs21,500 to Rs490,362, 10 grams of 24-karat gold dropped by Rs18,433 to Rs420,406, and 10 grams of 22-karat gold fell by Rs16,897 to Rs385,386. Internationally, gold prices had decreased by $215 to $4,676 per ounce on Monday.

Similarly, silver had lost value on Monday, with per-tola silver decreasing by Rs601 to Rs8,405 and 10 grams dropping by Rs516 to Rs7,205. International silver prices also declined by $6.01 to $79.30 per ounce.

Traders attributed Tuesday’s rebound to renewed global demand and fluctuations in international precious metal markets.