KARACHI – Gold prices in local markets witnessed further increase on last day of the trading week, reflecting both global market trends on Saturday.
According to the All Pakistan Gems and Jewellers Association, the price of 24-karat gold rose by Rs1,000 per tola, reaching Rs364,500.
Meanwhile, 22-karat gold is now being sold at Rs334,125 per tola, and 21-karat gold has climbed to Rs318,938 per tola.
Silver prices also followed the upward trend as the price of 10 grams increased by Rs20 in local market.
Market analysts attribute the price hike to ongoing global economic uncertainty, fluctuations in the value of the Pakistani rupee, and increased investor interest in precious metals within the local market.
Gold continues to be viewed as a safe-haven asset, particularly during periods of economic instability, leading to persistent demand and upward pressure on prices both globally and locally.
