Gold prices jump by Rs4,000 per tola in Pakistan

All Pakistan Gems and Jewellers Association (APGJA) says price of one tola of gold climbed to Rs431,736, reflecting a single-day increase of Rs4,000

KARACHI: Gold prices surged sharply in Pakistan on Monday, with the price of 24-karat gold rising by Rs4,000 per tola, driven by a significant increase in international bullion markets.

All Pakistan Gems and Jewellers Association (APGJA) said that the price of one tola of gold climbed to Rs431,736, reflecting a single-day increase of Rs4,000.

The association also reported that the price of 10 grams of 24-karat gold increased by Rs3,430, taking it to Rs370,143.

The rise in domestic gold prices followed a strong upward trend in the international market, where the price of the precious metal gained $40 per ounce to reach $4,093 per ounce.

Gold prices in Pakistan generally move in line with international bullion rates and are also influenced by fluctuations in the rupee-dollar exchange rate. Any increase in global prices is typically reflected in the local market, leading to higher rates for consumers and investors.

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The latest increase comes amid continued uncertainty in global financial markets, where investors often turn to gold as a safe-haven asset during periods of economic and geopolitical instability. Rising international demand for the precious metal has continued to support higher prices in recent trading sessions.

The jewellers say sharp price movements often affect consumer buying patterns, with retail demand usually slowing as prices climb. However, investment interest in gold tends to remain strong during volatile market conditions, as many investors view the metal as a hedge against inflation and Currency fluctuations.

The market analysts believe future movements in local gold prices will largely depend on developments in the international bullion market, global economic conditions, central bank policies, and currency exchange rates.