On Saturday, gold rates in Pakistan defied the downward trend witnessed in international markets, with an increase of Rs450. The price of 24 karat gold per tola reached Rs236,200 in the local market, marking a significant rise.
Similarly, the price of 24 karat gold per 10 grams experienced a surge of Rs385, closing at Rs202,503. Additionally, the price of 22 karat gold per 10 grams concluded at Rs185,628.
READ MORE: Gold prices in Pakistan slide amidst global market downturn
Interestingly, this increase in gold prices occurred despite a decline of $6, leading to a closing price of $1,946 per ounce in the international market. It is worth noting that the Pakistani Rupee (PKR) also demonstrated appreciation against the dollar during this period.
READ MORE: Gold declines significantly in Pakistan amid strengthening rupee
In contrast, silver prices remained unchanged in the local market. The price of 24 karat silver per tola held steady at Rs2,900, while the price of 24 karat silver per 10 grams remained unchanged at Rs2,486.28. However, the price of silver experienced a slight uptick, rising to $23.33 per ounce from the previous day’s closing price of $23.20.
READ MORE: Gold prices soar in Pakistan following global market surge
This unexpected increase in gold rates within Pakistan, despite a slide in international markets, may be attributed to various factors such as local demand, currency fluctuations, and geopolitical influences. As the market continues to fluctuate, investors and consumers alike will closely monitor these developments in the precious metals sector.
READ MORE: Gold softens in Pakistan amid surge in global markets
