KARACHI: Gold prices in Pakistan climbed on Tuesday, tracking gains in international markets and currency movements. According to the All Pakistan Sarafa Gems and Jewellers Association, the price of 24-karat gold rose by Rs. 4,600 to Rs. 499,962 per tola. Ten grams of 24-karat gold increased by Rs. 3,943 to Rs. 428,636, while 22-karat gold was quoted at Rs. 392,930. Silver also advanced, with the 24-karat rate reaching Rs. 8,260 per tola.
The surge reflects a parallel rally in global bullion, where gold jumped $46 to $4,776 per ounce and silver gained $3.26 to $77.76. Analysts attribute the upswing to renewed safe-haven demand amid geopolitical uncertainties and expectations that central banks may slow the pace of monetary tightening. A softer U.S. dollar and easing bond yields further boosted investor appetite for precious metals.
Market watchers note that central bank purchases, particularly from Asia, continue to underpin gold demand, while inflationary pressures keep investors hedging against currency risks. In Pakistan, fluctuations in the rupee-dollar parity magnify the impact of international price swings, making local bullion markets highly sensitive to global cues.
Traders anticipate volatility to persist, with gold likely to remain supported by geopolitical tensions and inflation concerns, even as profit-taking could trigger short-term corrections.
