Gold prices in Pakistan today rise sharply to Rs349,300
The rise in gold prices is attributed to the gains in the international market, where spot gold gained 0.4% to $3,312.05 an ounce. The price of 10 grams of gold increased by Rs1,200 to Rs299,468, indicating a strong demand for gold in Pakistan. The stability in currency rates, with USD/PKR at 282.12, is also expected to have a positive impact on the economy.
Gold prices in Pakistan rose by Rs1,400 to Rs349,300 per tola on Wednesday, following gains in the international market, where spot gold gained 0.4% to $3,312.05 an ounce. The price of 10 grams of gold increased by Rs1,200 to Rs299,468, rebounding from a sharp drop on Tuesday when gold fell by Rs3,600 per tola.
The rebound in gold prices came after a volatile trading session on Tuesday, where gold prices dropped sharply. However, with the international market showing signs of recovery, gold prices in Pakistan also rose. The National Bank of Pakistan (NBP) released the Exchange Rates Bulletin on May 29, 2025, listing foreign exchange rates in Pakistan, which remained stable, with USD/PKR at 282.12.
Analysts expect gold to remain within the $3,270 to $3,360 range unless global hurdles such as unresolved tariff issues and geopolitical tensions are resolved. The minutes of the US Federal Reserve's latest policy meeting are due later in the day and are expected to influence the market. On Thursday, gold price in Pakistan remained unchanged at Rs349,300 per tola, with 10-gram gold selling at Rs299,468.
The stability in gold prices and currency rates is expected to have a positive impact on the stock market, which saw mixed results on Thursday. The silver price remained stable at Rs3,380 per tola, indicating a steady demand for precious metals in Pakistan. As the global market continues to be volatile, investors are advised to keep a close eye on the developments in the international market.