If you were planning to buy gold jewelry, you might want to sit down for this news.
Gold prices in Pakistan have shattered all previous records, and they’re racing toward the Rs. 500,000 mark per tola after one of the biggest single-day price jumps the country has ever seen.
On Friday, gold prices took a massive leap that left everyone talking. According to the All-Pakistan Gems and Jewelers Sarafa Association (APGJSA), 24-karat gold jumped by a whopping Rs. 14,100 in just one day, bringing the price to Rs. 456,900 per tola. If you prefer buying gold by weight, 10 grams of the precious metal increased by Rs. 12,089, now costing Rs. 391,718.
It’s not just gold that’s climbing either. Silver prices are also on the rise, reaching Rs. 5,504 per tola, giving buyers even more to think about.
So what’s causing this dramatic change? The price increase is directly linked to what’s happening in global markets. International spot gold is currently hovering near $4,355 per ounce, showing significant volatility. When international prices go up, Pakistani rates naturally follow.
With gold inching closer to the half-million rupee mark per tola, investors and buyers alike are keeping a close eye on the market to see where prices head next.
