KARACHI: Gold rises Rs7,900 per tola in Pakistan on Thursday as the local bullion market followed gains in the international market, pushing the yellow metal to a new high of Rs523,962 per tola.
According to figures issued by the All-Pakistan Gems and Jewellers Sarafa Association, the price of gold surged by Rs7,900 during the day. The price of 10 grams of gold also increased by Rs6,773 and was traded at Rs449,212 in the domestic market.
The fresh jump comes a day after gold had already recorded gains. On Wednesday, the per tola rate had climbed by Rs1,300 to settle at Rs516,062, reflecting a continuing upward trend in the bullion trade.
Bullion dealers said the rise in local prices was largely driven by strength in the global market, where gold continued to attract investors seeking safe-haven assets amid economic uncertainty and currency fluctuations. International gold prices directly impact Pakistan’s market as the country relies on imported bullion, and rates are calculated based on global prices converted into the rupee.
Market analysts noted that volatility in the US dollar and global economic developments often influence gold’s movement. Any increase in international prices or weakening of the local currency tends to push domestic rates higher.
The sharp increase may impact jewellery buyers, particularly during the ongoing wedding season, as higher prices raise purchasing costs. However, investors holding gold may view the rally as an opportunity for gains.
Traders believe that if international trends remain bullish, local gold rates could see further fluctuations in the coming days. For now, gold rises Rs7,900 per tola in Pakistan marks one of the strongest single-day increases in recent weeks, keeping the bullion market firmly in focus.
