KARACHI: After a two-day pause, gold prices in both the international and local markets witnessed a sharp surge on Thursday (Today).
In the international bullion market, the price of gold per ounce recorded a sudden increase of $83, pushing the new global rate to $4,207 per ounce.
Similarly, in local bullion markets, the price of 24-karat gold rose significantly by Rs8,300 per tola, reaching Rs443,062. Meanwhile, the 10-gram gold price jumped by Rs7,116, settling at Rs379,854.
According to market analysts, the renewed uptrend in gold prices is driven by investors turning to pure gold to safeguard their assets from devaluation and rising demand from BRICS countries. This shift has reversed the brief downward trend witnessed earlier in both global and domestic markets.
Meanwhile, the price of silver in Pakistan also increased notably. The rate for one tola of silver rose by Rs228, reaching Rs5,662, while the 10-gram silver price climbed by Rs196 to Rs4,854.
