Gold Prices Surge in Pakistan Amid Global Market Uptick

Strategic Insights -

Gold prices in Pakistan saw a significant increase on Friday, influenced by a surge in international markets. The local price of 24-carat gold per tola climbed by Rs3,500, reaching Rs351,000, while 10 grams of gold rose by Rs3,000, now priced at Rs300,925. The uptick in gold prices follows a $35 per ounce increase in the international bullion market, where the price of gold reached $3,326 per ounce after a brief one-day pause. Meanwhile, silver prices also saw a boost, with the price of one tola rising by Rs38, now priced at Rs3,466.

Key Takeaways:

  • The local price of 24-carat gold per tola increased by Rs3,500, reaching Rs351,000, a rise of 1% in a single day.
  • The price of 10 grams of gold rose by Rs3,000, now standing at Rs300,925, a gain of 1% in a day.
  • The price of 22-karat gold for 10 grams increased by Rs2,750, reaching Rs275,857, a rise of 1% in a day.
  • Global gold prices reached $3,326 per ounce after a brief one-day pause, up from the previous day's price.
  • Silver prices also saw a boost, with the price of one tola rising by Rs38, now priced at Rs3,466.
  • The price of 10 grams of silver increased by Rs33, reaching Rs2,971.
  • Spot gold was up 1% at $3,325.47 an ounce, its highest since April 7.
  • Bullion has risen 4% this week, its highest since April 7.

Statistics:

  • The price of gold rose by $35 per ounce in the international bullion market, reaching $3,326 per ounce.
  • The price of silver rose by Rs38 per tola, reaching Rs3,466.
  • The price of 10 grams of gold rose by Rs3,000, now priced at Rs300,925.
  • The price of 24-carat gold per tola increased by Rs3,500, reaching Rs351,000.
  • Spot gold was up 1% at $3,325.47 an ounce.
  • Silver prices saw a boost, with the price of one tola rising by Rs38, now priced at Rs3,466.
  • Spot gold is expected to retest a resistance of $3,335 per ounce.

Sources:

  • [Daily Times]
  • [Dawn]