Gold Prices Jump Rs. 7,000 Per Tola Amid Global Surge. Gold prices in Pakistan witnessed a sharp increase on Saturday, reflecting strong gains in the international bullion market. The price of gold per tola surged by Rs. 7,000, reaching an all-time high of Rs. 526,962, according to the latest market data.
The sudden jump has drawn attention from investors, traders, and buyers, as gold continues to show high volatility driven by global economic factors and international price movements.
Significant Increase in Local Gold Rates
As per figures released by the All-Pakistan Gems and Jewellers Sarafa Association, the domestic gold market experienced a notable upward trend throughout the day. Alongside the rise in per tola rates, the price of 10 grams of gold also increased by Rs. 6,001, settling at Rs. 451,784.
Jewellers and market analysts have attributed this surge mainly to rising international prices, which often have a direct impact on Pakistan’s gold rates due to import dependency.
Global Market Drives Local Price Hike
The sharp rise in local gold prices closely mirrors the upward trend in the global market. Internationally, gold prices increased by $70 per ounce, reaching approximately $5,042 per ounce, including a premium of $20.
Experts believe that global economic uncertainty, currency fluctuations, and increased demand for safe-haven assets have contributed to the rising gold prices worldwide. Since Pakistan relies heavily on imported gold, any increase in international prices quickly translates into higher domestic rates.
Volatility Continues in the Bullion Market
The latest surge comes just a day after a significant decline in gold prices, highlighting ongoing volatility in the bullion market. On Friday, gold prices in Pakistan dropped by Rs. 8,600 per tola, bringing the rate down to Rs. 519,962.
This rapid fluctuation within a short period indicates that the gold market remains highly sensitive to international trends, geopolitical developments, and investor sentiment. Traders are closely monitoring global indicators to predict the next price movement.
Impact on Buyers and Investors
The sudden increase in gold prices has had mixed effects on different segments of the market. For investors, the surge is being viewed as a positive development, as gold remains a popular hedge against inflation and currency depreciation.
However, for consumers planning weddings or jewelry purchases, the rising prices have created challenges. Many buyers are reportedly delaying purchases in hopes of a potential correction in prices, while others are opting for lighter jewelry due to affordability concerns.
Silver Prices Move in the Opposite Direction
While gold prices surged sharply, silver prices showed a contrasting trend in the domestic market. According to market data, silver prices dropped by Rs. 105 per tola, bringing the rate down to Rs. 8,219 per tola.
This divergence between gold and silver trends reflects differing demand dynamics and market pressures. Analysts note that silver is more influenced by industrial demand, while gold is primarily driven by investment and safe-haven buying.
Factors Behind Rising Gold Prices
Several factors are contributing to the recent surge in gold prices both globally and locally. One of the primary reasons is the continued uncertainty in international markets, which typically pushes investors toward gold as a reliable store of value.
Additionally, fluctuations in the US dollar, inflation concerns, and geopolitical tensions often strengthen gold’s appeal as a safe-haven asset. When global investors move toward gold, prices rise internationally, and countries like Pakistan experience a direct impact.
Outlook for the Gold Market
Market experts believe that gold prices may remain volatile in the coming weeks, depending on global economic conditions. If international gold prices continue to rise, domestic rates in Pakistan are also expected to remain elevated.
However, analysts also warn of potential corrections, as rapid price increases are often followed by temporary pullbacks. Investors are advised to stay cautious and closely monitor market trends before making major buying or selling decisions.
Conclusion
The latest Rs. 7,000 per tola jump in gold prices highlights the strong influence of international market trends on Pakistan’s bullion market. With global gold prices climbing and local rates touching new highs, the precious metal continues to attract attention from investors and consumers alike.
