Gold Prices Surge Past Rs500,000 Mark in Pakistan Amid Global Rally
Karachi — Gold prices in Pakistan have witnessed a massive surge, crossing the psychological threshold of Rs500,000 per tola for the first time, reflecting sharp gains in both local and international markets.
According to rates issued by the All Pakistan Sarafa Gems and Jewellers Association, the price of gold per tola jumped by Rs15,700 to reach Rs500,000. These rates will remain effective until midday today.
The price of 24-karat gold per 10 grams increased by Rs13,460, settling at Rs432,237, while 22-karat gold rose by Rs12,339 to Rs396,231 per 10 grams.
Silver prices also recorded a notable increase. The per tola rate climbed by Rs440 to Rs8,184, while 10 grams of silver rose by Rs377 to reach Rs7,016.
In the international market, gold prices surged by $157 per ounce to hit $4,814, while silver increased by $4.40 to reach $77 per ounce.
Market experts attribute the sharp rise to volatility in global markets and fluctuations in the interbank exchange rate. Ongoing geopolitical tensions, particularly involving Iran, have also contributed to increased demand for safe-haven assets like gold and silver, driving prices upward.
