Gold Prices Surge Sharply in Pakistan as Global Rates Jump to Record Highs

Gold prices witnessed a sharp increase in Pakistan on Thursday, reflecting a strong upward trend in the international bullion market.

According to market sources, the price of gold in the local market surged by Rs 14,800 per tola, pushing the rate to Rs 529,162 per tola in Karachi. Similarly, the price of 10 grams of gold rose by Rs 12,689, reaching Rs 453,671.

The rise in domestic gold prices follows a significant increase in global markets, where gold prices jumped by $148 per ounce. As a result, the international gold rate climbed to $5,064 per ounce, marking a notable high.

Silver prices also moved upward in the local market. The price of silver increased by Rs 109 per tola, bringing it to Rs 9,255. Meanwhile, the price of 10 grams of silver rose by Rs 93 to settle at Rs 7,934.

In the international market, silver prices advanced to $87.80 per ounce. Market analysts attribute the surge in precious metal prices to global economic uncertainty, currency fluctuations, and increased demand for safe-haven assets.