Gold price jumps Rs6,900 per tola in Pakistan as global rates rise
“Gold prices climbed sharply in Pakistan, with the per-tola rate increasing by Rs6,900 to Rs460,336 as international bullion prices rose by $69 per ounce. KARACHI…”
KKARACHI —Gold prices recorded a sharp increase in Pakistan on Friday, with the price of the precious metal rising by Rs6,900 per tola amid an increase in international bullion rates. Following the latest increase, the price of gold reached Rs460,336 per tola in local bullion markets.
The price of 10 grams of gold increased by Rs5,914, taking the new rate to Rs394,663, local market. The domestic increase came as gold prices also moved higher in the international market. International gold rose by $69 per ounce to $4,378, providing upward momentum to prices in Pakistan.
Gold prices in the domestic market generally respond to movements in international bullion rates as well as changes in the rupee-dollar exchange rate and local market conditions. The latest increase represents another significant move for consumers and investors tracking precious-metal prices.
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Higher gold prices particularly affect Pakistan’s jewellery market, where the precious metal remains an important component of wedding-related and traditional purchases. For investors, gold is also commonly viewed as a store of value during periods of economic and financial uncertainty.
However, bullion prices can fluctuate significantly in response to changes in international markets, currencies, interest-rate expectations and investor demand.
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