Gold prices jump by Rs 3,700 in Pakistan amid global market rally

Gold prices in Pakistan sharply increased on Tuesday as global trends and local currency exchange rates drove up the value of precious metals, reported 24NewsHD TV channel.

According to data released by the All Pakistan Sarafa Gems and Jewellers Association, the price of 24-karat gold per tola jumped by Rs. 3,700, bringing the new rate to Rs. 344,200.

In line with this surge, the price for 10 grams of 24-karat gold also rose by Rs. 3,173, reaching Rs. 295,096.

Meanwhile, the price of 10 grams of 22-karat gold climbed by Rs. 2,821 and now stands at Rs. 270,514.

On the international front, gold prices stood at $3,258 per ounce, marking an increase of $37.

Silver rates also saw an upward trend. A tola of 24K silver rose by Rs. 82, reaching Rs. 3,482, while 10 grams increased by Rs. 71, now costing Rs. 2,985. International silver is priced at $33.00, up by $0.82.

These rates are based on the prevailing interbank exchange rates and were confirmed by Muhammad Qasim Shikarpuri, President of the All-Pakistan Sarafa Gems and Jewellers Association.

Analysts suggest that investors increasingly turn to precious metals as a hedge against economic uncertainty, driving both local and international markets upward.