Gold continued its upward trajectory in Pakistan on Thursday, mirroring a significant surge in the international rate. Locally, the price per tola of gold soared to Rs241,100, marking a substantial gain of Rs2,200 within the day.
According to the All Pakistan Gems and Jewellers Sarafa Association (APGJSA), the price of 10 grams of gold stood at Rs206,704 after witnessing an increase of Rs1,886. This follows a rise of Rs1,800 per tola recorded on Wednesday.
This surge brings the local price of gold per tola close to the all-time high of Rs242,700 observed in September 2023, as reported by the APGJSA.
Internationally, gold reached a record high on Thursday, with a premium of $20, settling at $2,311 per ounce following a $21 increase in the international market, according to the APGJSA.
Meanwhile, silver rates in Pakistan experienced a slight uptick, rising by Rs40 to Rs2,650 per tola.
The surge in gold prices globally can be attributed to Federal Reserve Chair Jerome Powell’s recent remarks, wherein he emphasized that recent job gains and higher-than-expected inflation readings have not significantly altered the central bank’s overall monetary strategy.
