KARACHI: The gold prices once again delivered a major surprise to both global and local markets, recording a sharp and unexpected surge that has caught investors, traders, and consumers off guard.
The international bullion market witnessed a dramatic increase on Saturday, with the price of gold rising by $117 per ounce in a single session. This significant jump pushed the global price of gold to a new level of $4,967 per ounce, a figure that has raised fresh questions about market stability and future price direction.
In this sense, the sudden movement has not remained confined to global markets alone. Its immediate impact was also felt across Pakistan’s local bullion markets, where prices followed the international trend with notable intensity on the final trading day of the business week.
The price of 24-carat gold per tola surged by Rs11,700, reaching Rs519,462. Similarly, the price of 10 grams of gold increased by Rs10,030, settling at Rs445,354. Traders described the pace of the increase as unusually fast, especially considering the short gap since the previous rise.
Meanwhile, silver prices also moved upward, adding another layer to the unfolding situation. The price of silver per tola increased by Rs444 to reach Rs8,269, while 10 grams of silver rose by Rs381, reaching Rs7,089 in the local market.
Jewellers and bullion traders say customer sentiment has shifted noticeably, with buyers becoming more cautious amid rapidly changing prices. At the same time, some investors view the surge as a sign of uncertainty in global financial conditions.
