Gold prices surge in Pakistan following global market trends

Gold prices in Pakistan witnessed a sharp increase on Tuesday, with 24-karat gold rising by Rs 3,700 per tola to reach Rs 344,200, according to data from the All Pakistan Sarafa Gems and Jewellers Association. The price of 10 grams of 24-karat gold also climbed by Rs 3,173, settling at Rs 295,096, while 22-karat gold increased by Rs 2,821 to Rs 270,514 per 10 grams.

The surge mirrored global trends, with international gold prices rising by $37 to $3,258 per ounce. Silver prices also followed an upward trajectory, with a tola of 24-karat silver increasing by Rs 82 to Rs 3,482, and 10 grams rising by Rs 71 to Rs 2,985. Internationally, silver traded at $33.00, up by $0.82.

Muhammad Qasim Shikarpuri, President of the All-Pakistan Sarafa Gems and Jewellers Association, attributed the price hike to fluctuations in global markets and currency exchange rates. Analysts noted that investors are increasingly turning to gold and silver as safe-haven assets amid economic uncertainty.

In related developments, gold prices in Saudi Arabia were recorded at 4,574.06 SAR per tola, with 10 grams priced at 3,921.59 SAR. Meanwhile, the Saudi Riyal (SAR) was trading at Rs 75.06 against the Pakistani Rupee (PKR) in the open market.

Historically, gold has been viewed as a stable investment during economic volatility, with central banks and investors maintaining reserves to hedge against inflation and currency fluctuations. The latest price movements reflect ongoing global market dynamics, reinforcing gold’s status as a preferred asset in uncertain times.

Also read: Gold price in Pakistan, May 10, 2025