Gold Soars to Rs. 403,600 in Pakistan

Gold and silver prices in Pakistan saw a sharp increase on Monday, drawing attention from investors and buyers across the country. According to the All-Pakistan Gems and Jewelers Sarafa Association (APGJSA), 24-karat gold was sold at Rs. 403,600 per tola, marking a one-day rise of Rs. 5,900.

The price of 24-karat gold per 10 grams also climbed to Rs. 346,021, reflecting an increase of Rs. 5,058. Experts attribute this surge to global gold trends, fluctuations in the US dollar, and strong local demand.

Meanwhile, 22-karat gold was quoted at Rs. 317,197 per 10 grams, showing a significant increase for buyers. Analysts suggest that speculative buying and uncertainty in global markets are key drivers behind these rising prices.

Silver prices also followed the upward trend. 24-karat silver was sold at Rs. 4,792 per tola (+Rs. 88) and Rs. 4,108 per 10 grams (+Rs. 76). Market observers noted that silver prices are influenced by both global commodity trends and local demand.

Local jewellers have advised buyers to plan their purchases carefully, as daily fluctuations can affect the overall cost. Any sudden changes in demand or currency value may cause prices to rise or fall sharply.

Market Impact:

The surge acts as a warning for investors, especially those engaged in short-term trading or buying physical gold. Experts suggest that while long-term investments may remain relatively stable, daily market movements should not be ignored.

The sharp increase has also affected small-scale investors and consumers in Pakistan who were planning to convert their savings into gold or silver, highlighting the importance of monitoring market trends before making purchases.