The prices of gold and silver in Pakistan have risen significantly. The rise is linked to global tensions, especially the ongoing Russia-Ukraine conflict. People are turning to gold and silver as safe investments during this uncertain time. Let’s look at the latest prices and the reasons behind this surge.
Recent Gold and Silver Price Changes
On Thursday, gold prices in Pakistan for 24-karat gold increased by Rs3,700.It is now priced at Rs278,000 per tola. Silver also saw an increase of Rs200, now costing Rs3,450 per tola.
This increase happened as the conflict between Russia and Ukraine grew more intense. Ukraine used British missiles to strike targets in Russia, increasing global uncertainty.
Global Gold Prices Also Rising
In the international market, gold prices are also increasing. Spot gold is trading at $2,668 an ounce, up by $15.80 or 0.60% from the previous day.
In Pakistan, 24-karat gold per 10 grams increased by Rs3,172, reaching a price of Rs238,340. According to the All-Pakistan Gems and Jewelers Sarafa Association (APGJSA), this is one of the biggest jumps in recent weeks.
Comparison of Local Prices
The price of 22-karat gold also went up. It is now priced at Rs218,479 per 10 grams. Here’s a summary of the latest prices:
| Metal | Price (PKR) | Change (DoD) |
|---|---|---|
| Gold (24K) | Rs278,000 | +Rs3,700 |
| Silver | Rs3,450 | +Rs200 |
These increases reflect both local demand and global trends.
Why Are Precious Metal Prices Rising?
The price of gold and silver often increases during times of crisis. When events like wars or economic uncertainty happen, people prefer investing in safe assets like gold and silver.
The current rise is largely due to the Russia-Ukraine conflict. Investors around the world are seeking security by purchasing precious metals, which raises their demand and prices.
What This Means for Buyers and Investors
For regular buyers, the rise in gold and silver prices means higher costs. For investors, however, this might be an opportunity to add a stable asset to their portfolio.
To stay updated on gold prices, visit Daily Gold Signal. For regular price updates, check out Daily Gold Update.
