KARACHI: The gold prices have surged significantly over the past week due to continuous gains in the global market, while local buying activity has slowed noticeably.
In the international market, gold climbed $123 over the week to trade at $4,165 per ounce, leading to a surge in local prices.
In Pakistan, the price of one tola of gold increased by PKR 12,300, reaching PKR 438,862, while the price of 10 grams of gold rose by PKR 10,542, hitting PKR 376,253.
Silver prices also saw an increase, rising by PKR 420 per tola over the week to PKR 5,642 per tola.
Despite the rising gold prices, shopkeepers report that local market demand has slowed, with investors closely monitoring global market trends before making purchases.
