KARACHI: Gold prices in Pakistan surged on Friday, recovering from the previous day’s drop as local demand picked up despite a decline in international rates.
As per data from the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), the price of 24-karat gold increased by Rs5,300, reaching Rs424,162 per tola. Similarly, 10 grams of 24-karat gold saw an uptick of Rs4,544, settling at Rs363,650.
Throughout October, gold prices in Pakistan have climbed significantly, with an overall rise of Rs17,384 per tola from the starting price of Rs406,778 earlier this month.
Silver prices also recorded a notable increase. The price of 24-karat silver jumped by Rs158 to Rs5,192 per tola and by Rs136 to Rs4,451 for 10 grams.
On the international front, spot gold was trading near $4,026 per ounce, marking a slight dip of $10.2 or 0.25 percent compared to the previous session. The decline was attributed to a stronger US dollar amidst ongoing uncertainty regarding potential further interest rate cuts by the Federal Reserve
