KARACHI: Gold prices in Pakistan continued their sharp upward trend on Saturday, with the price of one tola increasing by Rs5,700, according to the All Pakistan Gems and Jewellers Association.

Following the latest increase, the price of 24-karat gold reached Rs482,936 per tola, compared with Rs477,236 previously.

The price of 10 grams of gold also increased by Rs4,972, taking the new rate to Rs414,039.

The latest surge comes after gold prices registered a significant increase a day earlier. On Friday, the price of gold rose by Rs5,200 per tola, indicating strong upward momentum in the domestic bullion market. Published market data also recorded Friday’s Rs5,200 increase.

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As a result, the price of gold has increased by more than Rs10,000 per tola in just two days, putting additional pressure on buyers, particularly those purchasing jewellery.

Gold rates in Pakistan are closely linked to movements in the international bullion market as well as fluctuations in the rupee-dollar exchange rate. International gold prices, investor demand and broader economic uncertainty can all influence local rates.

Market trackers on Saturday were also showing elevated gold prices, although quoted rates varied between sources and intraday updates.

The sharp rise is particularly significant for Pakistan’s jewellery market, where changes in gold prices directly affect retail prices and purchasing decisions during the wedding season.