KARACHI: Gold prices in both global and local markets continued to rise for the fifth straight day. According to the All Pakistan Saraf Gems and Jewellers Association, the price of 24-karat gold per tola increased by 800 rupees, bringing the new rate to 457,336 rupees.
The price for 10 grams of gold rose by 685 rupees to reach 392,091 rupees, while the price of silver per tola increased by 77 rupees to become 6,903 rupees.
Over the past five days, the price of gold per tola has surged by a total of 29,400 rupees, following a cumulative increase of 28,600 rupees over the previous four days.
In the international market, the price of gold per ounce increased by 8 dollars to reach 4,349 dollars.
Gold Market Trends in Pakistan
Over the past three months, gold prices in Pakistan have experienced significant fluctuations, largely driven by shifting international bullion trends and currency movements.
During late spring and early summer, the local market witnessed a period of relative stabilization and consolidation, mirroring international spot prices which hovered around lower support levels.
However, entering August, domestic gold rates staged a sharp upward trajectory. The price of 24-karat gold per tola, which had seen more moderate ranges earlier in the quarter, climbed steadily to test new highs above the 450,000-rupee threshold.
This recent surge was heavily influenced by a strong rebound in global markets, where per-ounce rates escalated past key psychological resistance levels, crossing the 4,300-dollar mark.
Local jewellers and Sarafa associations noted that consecutive daily gains added tens of thousands of rupees to the per-tola cost over short spans.
Because Pakistan is a net importer of the precious metal, domestic buyers and investors continue to feel the direct impact of these global rallies.
Market analysts attribute the persistent high valuations to safe-haven buying amid broader economic uncertainties, keeping gold as a primary hedge against inflation despite fluctuating domestic purchasing power.
