KARACHI: Prices of gold experienced a major surge in both local and international markets today.
According to the All Pakistan Sarafa Association, the price of 24-karat gold per tola increased by Rs 4,700, reaching Rs 429,236, while the price of 10 grams of gold rose by Rs 4,029 to settle at Rs 368,000.
Additionally, the price of silver per tola increased by Rs 219, reaching Rs 6,396.
In the international market, gold climbed by $47, bringing the price per ounce to $4,068.
Gold Price Trends Over the Past Three Months
Over the past three months, the global and domestic gold markets have experienced notable volatility, characterized by significant corrections following historic peaks earlier in the year.
After reaching unprecedented all-time highs in January, gold prices underwent a cooling phase through the spring months, dropping considerably by June due to shifting macroeconomic factors, fluctuating real yields, and evolving central bank interest rate expectations.
During late spring and early summer, international spot prices encountered downward pressure, sliding significantly below previous yearly highs and testing key technical support levels.
This global downward trend directly impacted the domestic market in Pakistan, where local bullion rates mirrored the international correction, offering temporary relief or consolidation phases for buyers and investors.
However, as geopolitical tensions and inflation concerns re-emerged in July, market sentiment began to shift once again.
Recent weeks have shown renewed upward momentum, with gold attempting to recover ground as investors hedge against macroeconomic uncertainties and shifting monetary policies.
Despite short-term fluctuations and technical corrections over the trailing ninety days, precious metal markets continue to demonstrate high sensitivity to global economic indicators and currency exchange rates.
