The precious metals market witnessed a remarkable surge on Thursday, with gold prices experiencing their largest single-day gain in recent months, mirroring the upward momentum in global markets.
Local Market Highlights
Gold prices in Pakistan’s domestic market saw an extraordinary jump, with per tola rates climbing by Rs. 8,300 to settle at Rs. 443,062. This dramatic increase comes just a day after Wednesday’s decline of Rs. 1,000, which had brought prices down to Rs. 434,762 per tola.
The 10-gram gold rate followed suit, advancing by Rs. 7,116 to close at Rs. 379,854, as reported by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA).
International Market Performance
The global gold market demonstrated strong bullish sentiment, with international rates climbing to $4,207 per ounce (including a $20 premium). This represents a substantial $83 increase within a single trading session, reflecting heightened investor interest in the precious metal.
Silver Market Update
Silver prices also participated in the rally, with local rates advancing by Rs. 228 per tola to reach Rs. 5,662, offering investors an attractive alternative to gold investments.
