The Gold Price in Pakistan witnessed a sharp increase on Tuesday as local bullion markets reacted to rising international rates. According to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), the price of gold per tola climbed by Rs4,100, reaching Rs492,462 in the domestic market.
The price of 10-gram gold also recorded a major increase during the trading session. Gold was sold at Rs422,206 per 10 grams after gaining Rs3,515 compared to the previous trading day. Traders linked the upward movement to renewed strength in global gold markets.
The latest rise came only a day after gold prices had fallen significantly in Pakistan. On Monday, the price of gold per tola had declined by Rs5,300 and settled at Rs488,362. Market analysts believe the sudden rebound reflects continued volatility in both local and international bullion markets.
Internationally, gold prices surged by $41 per ounce, pushing the global rate to $4,701 per ounce, including a premium of $20. The increase in international prices directly influenced the Gold Price in Pakistan, as local rates are largely dependent on global market trends and currency movements.
Experts say investor demand for safe-haven assets has remained strong due to ongoing geopolitical tensions and uncertainty in international financial markets. Rising concerns over inflation, oil prices, and regional instability have also supported the upward trend in precious metal prices worldwide.
Meanwhile, silver prices also moved upward in the local market. The price of silver per tola increased by Rs395 and reached Rs8,908. Bullion traders noted that both gold and silver markets are experiencing heightened fluctuations amid changing global economic conditions.
Market observers expect the Gold Price in Pakistan to remain sensitive to international developments in the coming days. Factors such as US dollar movement, central bank policies, and geopolitical events are likely to continue influencing precious metal prices across global and domestic markets.
