Pakistan’s gold market has entered a blistering rally, with the price of a tola of 24-karat gold soaring to Rs482,936 on Saturday after another massive Rs5,700 jump in a single day. The price of 10 grams of gold also climbed by Rs4,972, reaching Rs414,039.
| Gold | Old Price | Change | Latest Price |
|---|---|---|---|
| Gold (per tola) | Rs477,236 | +Rs5,700 | Rs482,936 |
| Gold (10 grams) | Rs409,067 | +Rs4,972 | Rs414,039 |
| Silver (per tola) | Rs7,379 | No change | Rs7,379 |
| International Gold | $4,547 | +$57 | $4,604 |
The domestic rally coincided with another strong move in international bullion prices. Global gold gained $57, reaching $4,604 per ounce, including a $20 premium, adding further upward pressure to prices in Pakistan.
Silver, however, remained stable, with one tola selling at Rs7,379.
The speed of the rally becomes clearer when compared with prices at the start of the month. At the beginning of August, 24-karat gold was trading broadly between Rs420,000 and Rs440,000 per tola.
By August 20, gold had moved above Rs460,000 in several market reports. It then surged to Rs477,136 on Friday before Saturday’s fresh increase took the rate to Rs482,936.
Gold jumped by a staggering Rs13,700 on Thursday, followed by another Rs5,200 increase on Friday and then Rs5,700 on Saturday. That means the price has climbed by Rs24,600 across the three successive sessions, taking gold from the levels before Thursday’s surge to a fresh high of Rs482,936 per tola.
With international bullion prices pushing higher and domestic factors adding further pressure, Pakistan’s gold market is closing out August with strong bullish momentum and heightened volatility.
Gold Price climbs to Rs4.77Lac Per Tola in Pakistan amid massive buying
