Gold prices in Pakistan see sharp increase ahead of Eid

Gold prices across Pakistan recorded a sharp increase on Thursday, with the rate of 24-karat gold per tola rising by Rs. 4,300 to settle at Rs. 358,400, according to data released by the All Pakistan Sarafa Gems and Jewellers Association.

The price of 10 grams of 24-karat gold also saw a substantial jump of Rs. 3,687, now priced at Rs. 307,270. Similarly, 10 grams of 22-karat gold rose by Rs. 3,380, reaching Rs. 281,674.

On the international front, gold prices moved up by $43, hitting $3,400 per ounce, further influencing domestic markets that are closely aligned with international trends and interbank exchange rates.

Silver also followed the bullish trend. The price of 24-karat silver per tola increased by Rs. 159, now standing at Rs. 3,745, while 10 grams of silver rose by Rs. 136 to Rs. 3,210. International silver prices climbed $1.59, reaching $35.87 per ounce.

Market experts attribute the spike in prices to growing global uncertainty, a weakening rupee, and rising demand ahead of Eid.