Gold price increases by Rs2000 per tola in Pakistan

Karachi (Web Desk): Gold prices have witnessed a sharp and unexpected increase in both international and domestic markets, reversing the downward trend seen in recent days.

In the international bullion market, the price of gold rose by $20 per ounce, bringing it to $3,345 per ounce.

Following the global trend, Pakistan’s local gold markets also experienced a significant hike. The price of 24-karat gold increased by Rs2,000 per tola, reaching Rs357,200, while the price of 10 grams of gold rose by Rs1,715, taking it to PKR 306,241.

This rise comes shortly after a decline of PKR 2,500 in the last two days, surprising both traders and consumers.

According to financial analysts, global economic uncertainty and fluctuations in currency markets are key factors contributing to volatility in gold prices. These changes directly influence domestic gold markets as well.

Experts from the local bullion trade advise investors to proceed cautiously, as precious metal prices are expected to remain volatile in the near future.