Gold Prices in Pakistan Increase Massively

Gold prices in Pakistan jumped on Friday, with the price of gold per tola rising by Rs. 5,300 to reach Rs. 424,162, according to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA). The price of 10-gram gold also saw a significant increase, climbing by Rs. 4,544 to settle at Rs. 363,650. On Thursday, gold had closed at Rs. 418,862 per tola after a decline of Rs. 1,000 during the day. Internationally, gold prices also moved higher, with the rate at $4,018 per ounce (including a $20 premium), up by $53 for the day, as per APGJSA. Silver prices in the local market increased by Rs. 158 per tola, reaching Rs. 5,192. Meanwhile, global gold prices dipped on Friday as the US dollar strengthened amid uncertainty over further Federal Reserve rate cuts. Despite the daily drop, bullion remained on track for its third consecutive monthly gain. Spot gold was down 0.5% at $4,004 per ounce as of 0240 GMT, while US gold futures for December delivery held steady at $4,016.70 per ounce. So far this month, bullion has gained 3.9%.