Gold Prices Surge in Pakistan, Reaching Rs282,800 per Tola

The price of 24-karat gold in Pakistan has increased significantly, rising by Rs2,300 on Thursday to reach Rs282,800 per tola.

The price for 10 grams has also climbed by Rs1,971, now totalling Rs242,455. This rise reflects ongoing fluctuations in both local and international markets.

In the international market, gold prices rose by $23, bringing the cost to $2,716 per ounce. Earlier in the session, prices peaked at $2,725.79, indicating robust demand amidst economic uncertainties. U.S. gold futures experienced a slight decline of 0.2%, closing at $2,750.70.

Other precious metals have also seen price increases: spot silver rose by 0.8% to $32.15 per ounce, platinum increased by 0.7% to $946.05, and palladium gained 0.8%, reaching $989.25.

The recent surge in gold prices is attributed to global economic factors and heightened demand for safe-haven assets amid market volatility. This trend is expected to impact consumers and investors in Pakistan, particularly in sectors like jewellery and weddings where gold plays a crucial role