Gold prices in Pakistan surge by Rs 8,000 in two days

KARACHI: Gold prices in the domestic market have seen a sharp rise over the past two days, increasing by Rs 8,000 per tola, amid bullish trends in the global market.

On the last trading day of the previous week, the price of gold stood at Rs 5,300 per tola. After significant upward movement, gold today climbed by another Rs 2,700, taking the price to Rs 446,862 per tola.

Similarly, the price of 10 grams of gold rose by Rs 2,315, reaching Rs 380,112.

In the international market, gold registered an increase of $27, pushing the global price to $4,245 per ounce.

Silver prices also recorded gains, rising by Rs 54 per tola to reach Rs 5,963.

The sharp rise in gold coincides with a bullish trend in the stock market and a further decline in the value of the US dollar.

In the past six sessions, gold has moved up on three days and held its ground on the other three, taking the total weekly gain to Rs 15,300. The metal’s climb marks a notable change from last week’s Saturday rate of Rs 428,862 per tola, recorded on November 22, highlighting a difference of more than Rs 15,000 in just seven days.