The gold price in Pakistan continues to rise, reflecting strong gains in the international market. Investors and consumers are keeping a close eye on the local gold rates, which have seen significant increases over the past few days. Understanding the latest movements can help buyers, sellers, and traders make informed decisions.
According to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), gold prices in the domestic market are surging, keeping pace with global fluctuations.
Current Gold Rates in Pakistan
As of the latest update:
- Price per tola: Rs. 529,162 (up by Rs. 14,800)
- Price per 10 grams: Rs. 453,671 (up by Rs. 12,689)
These numbers show a continued upward trend after the previous day’s jump, where gold per tola increased by Rs. 24,000 to Rs. 514,362.
Why Gold Prices Are Rising in Pakistan
Several factors contribute to the steady rise of the gold price in Pakistan:
Global Market Influence
International gold prices saw a significant increase, reaching $5,064 per ounce, with an additional $20 premium. This global surge directly impacts domestic rates, as Pakistan heavily relies on imports for gold supply.
Local Economic Factors
Currency fluctuations, inflation, and demand in local markets also drive gold prices higher. Traders and investors often turn to gold as a safe-haven asset during economic uncertainty, adding upward pressure on rates.
Increased Investment Demand
With global and local markets showing volatility, both retail and institutional investors are investing in gold, contributing to the rising domestic prices.
Silver Market Update in Pakistan
Alongside gold, silver prices have also edged higher. The current market rates:
- Price per tola of silver: Rs. 9,255 (up by Rs. 109)
Silver remains a secondary but essential investment option for traders who monitor precious metal trends closely.
Tips for Buying Gold in Pakistan
If you’re planning to buy gold, keep these tips in mind:
- Monitor Market Trends: Check daily updates to buy at the right time.
- Compare Local Rates: Different dealers may offer slightly varying rates.
- Check Purity: Always verify the gold’s karat before purchasing.
- Consider Investment Plans: For long-term investors, buying gold bars or coins may be more beneficial than jewelry.
Forecast for Gold Price in Pakistan
Experts suggest that the gold price in Pakistan may continue its upward trajectory if global rates remain strong. Factors like geopolitical tensions, inflation, and currency devaluation can further influence domestic gold prices.
Investors and traders are advised to stay updated through reliable sources and APGJSA notifications.
Conclusion
The gold price in Pakistan has seen a notable rise, mirroring global trends. With per tola and 10 grams rates increasing sharply, investors and buyers are closely tracking market movements. Silver prices are also on the rise, providing an alternative investment option. Staying informed and understanding the market dynamics is essential for making wise buying and selling decisions.
