KARACHI: Gold prices in Pakistan rose on Thursday, August 21, in line with gains in the international market. The increase came a day after the local market saw a decline of Rs1,400 per tola.
With today’s increase, the price of gold per tola reached Rs357,200, marking a gain of Rs2,000 for the day.
According to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA). The rate for 10 grammes of gold also saw an increase of Rs1,715, taking it to Rs306,241. This marked a recovery from Wednesday, when gold had slipped by Rs1,400 to close at Rs355,200 per tola.
On the global front, the precious metal recorded a rise as well. International gold prices stood at $3,345 per ounce with a $20 premium, reflecting a $20 gain from the previous session. The upward move in both local and global markets signalled renewed investor interest amid ongoing economic concerns.
Meanwhile, silver also mirrored the trend. The price of silver per tola jumped by Rs78, reaching Rs4,013.
Gold price movement
The yellow metal has been on a rollercoaster throughout August, posting frequent ups and downs almost daily.
- On August 20, the price stood at Rs355,200 after a drop of Rs1,400 per tola.
- On August 19, it had slipped further to Rs356,600, losing Rs1,100.
- Earlier, on August 18, gold briefly rallied to Rs357,700 with a gain of Rs1,500.
- August 16 saw another dip to Rs356,200, falling by Rs900 per tola.
- On August 15, it slipped to Rs357,100 after a Rs1,000 decline.
Since the start of the month, gold prices have generally hovered between Rs352,900 and Rs362,700 per tola, showing sharp intraday swings.
This constant fluctuation has kept traders and investors on edge. Analysts believe global market movements, coupled with the strength of the US dollar, continue to dictate the direction of gold.
For now, bullion dealers expect the precious metal to stay volatile as international demand, currency pressures, and geopolitical developments shape sentiment in the coming days.