KARACHI: A significant increase was recorded in the prices of gold and silver in both international and local markets on Tuesday.
In the international bullion market, the price of gold rose by $41 per ounce, pushing the new global rate to $4,701 per ounce.
Following the global trend, local bullion markets also witnessed a sharp rise. The price of 24-karat gold increased by Rs. 4,100 per tola, reaching a new level of Rs. 492,462.
Similarly, the price of 10 grams of gold increased by Rs. 3,516, bringing it to Rs. 422,206 in the local market.
Silver prices also moved upward. The per tola price of silver rose by Rs. 395 to reach Rs. 8,906, while the price of 10 grams of silver increased by Rs. 339 to Rs.7,637.
Market analysts say the surge is largely driven by movements in the international bullion market, which continue to influence domestic pricing trends.
Earlier, Gold prices in Pakistan witnessed a significant decline as global rates also moved downward.
According to market data from Karachi, the price of gold per tola fell by Rs 5,300, bringing it down to Rs 488,362.
Similarly, the price of 10 grams of gold decreased by Rs 4,544, settling at Rs 418,691.
In the international market, gold prices dropped by $53 per ounce, reaching $4,660.
Meanwhile, silver prices remained stable in the local market, with the per tola rate unchanged at Rs 8,513.
