Karachi (Web Desk): Gold prices increased once again in both local and international markets after a two-day decline, with rates moving upward on Thursday.
According to the All Pakistan Sarafa Gems and Jewellers Association, the price of 24-karat gold rose by Rs1,000 per tola, reaching Rs427,436.
The price of 10 grams of gold also increased by Rs857, climbing to Rs366,457. Meanwhile, silver prices moved downward, with the cost of one tola falling by Rs76 to Rs6,215.
In the international market, gold prices also witnessed an increase of $10 per ounce, bringing the new rate to $4,050 per ounce.
A day earlier, gold prices in the domestic market had dropped by Rs1,000 per tola, settling at Rs426,436.
Market analysts said continuous fluctuations in gold prices have made buyers and investors cautious about making purchase decisions.
Experts noted that amid global economic uncertainty and political tensions, investors are turning towards gold as a safe-haven asset, increasing demand for the precious metal.
They added that if geopolitical tensions and economic concerns continue, gold prices may move further upward in the coming days.
However, any strengthening of the US dollar or changes in global monetary policies could lead to further volatility in prices.
Experts advised investors to closely monitor the latest trends in local and international markets before buying or selling gold, as even minor changes in global economic conditions can significantly impact precious metal prices.