Gold prices continue to go up locally, globally

Gold prices in Pakistan saw a significant increase on Thursday, following a rise in international market rates.

According to the All-Pakistan Gems and Jewelers Sarafa Association (APGJSA), the price of gold per tola surged by Rs3,700, reaching Rs278,000.

Similarly, the price of 10 grams of gold rose by Rs3,172, settling at Rs238,340. This increase follows a smaller rise of Rs800 per tola on Wednesday, when gold prices in Pakistan closed at Rs274,300.

The international price of gold also saw an uptick on Thursday, with the rate climbing to $2,668 per ounce, a $37 increase from the previous day. According to APGJSA, the price included a premium of $20.

In addition to the rise in gold prices, silver prices also gained, increasing by Rs200 to reach Rs3,450 per tola.

Last month, gold in Pakistan reached an all-time high of Rs287,900 per tola.

Internationally, gold prices have been on an upward trend for four consecutive sessions, fueled by heightened demand for safe-haven assets amid escalating tensions in the Russia-Ukraine conflict.

Investors are also closely monitoring remarks from U.S. Federal Reserve policymakers regarding future interest rate decisions, which have added to market uncertainty.