Global Gold Prices Surge, Boosting Local Market
Gold prices rose in both international and local markets on Thursday, following an increase in global gold prices. In the international bullion market, gold rose by $10 per ounce to $4,050 per ounce.
In response to this rise, the price of gold in the local market increased by Rs1,000 per tola to Rs427,436, according to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA). The price of 10 grams of gold also rose by Rs857 to Rs366,457.
However, silver prices moved in the opposite direction. In the international market, silver fell by 76 cents per ounce to $57.36 per ounce.
In line with this decline, the price of silver in the local bullion market decreased by Rs76 per tola to Rs6,215, while the price of 10 grams of silver dropped by Rs65 to Rs5,328.