Gold prices in Pakistan soared to a historic peak on Friday, reaching Rs306,200 per tola. This marked a significant increase of Rs2,200 in a single day, reflecting strong market demand.
Similarly, 24-karat gold per 10-gram rose to Rs262,517, gaining Rs1,886. These rates were reported by the All-Pakistan Gems and Jewelers Sarafa Association (APGJSA).
Rising Gold Prices in Pakistan
The surge in gold prices has been consistent over recent months. On Friday, 22-karat gold was quoted at Rs240,649 per 10-gram, showing a notable increase.
Silver prices also climbed in the domestic market. 24-karat silver was sold at Rs3,450 per tola, up by Rs83, and Rs2,957 per 10-gram, rising by Rs71.
Global Gold Market Trends
Globally, spot gold traded near 2,922anounce,decliningby2,922anounce,decliningby9 or 0.31% from the previous session. Despite this dip, the overall trend remains bullish.
Key Factors Driving Gold Prices
Several factors contribute to the rising gold prices, including inflation, currency fluctuations, and geopolitical tensions. During times of uncertainty, gold is frequently sought after by investors as a reliable safe-haven asset.
Silver Prices Follow the Trend
Silver prices also saw an upward trend, reflecting the overall precious metals market. This makes silver an attractive option for investors diversifying their portfolios.
Market Analysis and Future Predictions
Experts predict that gold prices may continue to rise due to ongoing economic uncertainties. Monitoring global trends is crucial for making informed investment decisions.
For more updates on gold and silver prices, visit Daily Gold Signal.
Explore detailed market analysis in the Daily Gold Update.
