The price of gold in Pakistan recorded another significant increase on Saturday, with the rate of one tola of gold rising by Rs5,700, according to the All Pakistan Gems and Jewellers Association.
The price of one tola of gold reached Rs482,936 in the domestic market. The fresh rise comes amid continued volatility in gold prices, with the precious metal becoming significantly more expensive over the past two days.
The latest increase marks another substantial jump in the price of gold in Pakistan. According to the association, the price of one tola of gold has increased by more than Rs10,000 during the last two days.
On the previous day, gold prices had already climbed by Rs5,200 per tola. The consecutive increases have pushed the precious metal closer to the Rs500,000-per-tola level, increasing concerns among buyers and investors about further price movements.
The rapid rise is also likely to affect consumers planning to purchase gold jewellery, particularly those preparing for weddings and other major family events.
The price of 10 grams of gold also recorded a notable increase in the domestic market.
According to the All Pakistan Gems and Jewellers Association, the price of 10 grams of gold rose by Rs4,972, taking the new price to Rs414,039.
The increase in both per-tola and 10-gram rates indicates the broader upward movement in the local gold market.
Gold Prices Remain Under Close Watch
Gold prices in Pakistan are closely watched by investors, jewellery buyers and traders because domestic rates can be influenced by developments in international bullion markets and currency movements.
The latest increase comes at a time when gold prices remain highly sensitive to global economic and financial developments.
However, the latest surge means that purchasing gold has become considerably more expensive, while investors may continue to watch the precious metal as a potential store of value amid market uncertainty.
