The gold price in Pakistan continued its upward momentum for the fourth consecutive day, reflecting a strong bullish trend both locally and globally. On Saturday, rates increased sharply, pushing gold and silver prices to new highs across the country.
Gold Gains Rs1,500 Per Tola
According to the All Pakistan Sarafa Gems and Jewellers Association, the price of 24-karat gold per tola rose by Rs1,500, reaching Rs363,000. Meanwhile, 10 grams of 24-karat gold climbed by Rs1,206 to settle at Rs311,213. These consistent gains have sparked growing interest among investors and jewellers alike.
International Gold Market Reflects Similar Trend
Global gold prices also recorded a modest rise. The price per ounce increased by $15, touching $3,432. Analysts attribute this international movement to market uncertainties and increasing demand for safe-haven assets, further influencing local rates in Pakistan.
Read: Gold Prices Surge as US-China Tensions Fuel Safe-Haven Demand
Silver Prices Also Climb
Silver prices in Pakistan followed a similar path. The price of a tola of 24-karat silver jumped by Rs7, now priced at Rs3,787. For 10 grams of silver, the rate increased to Rs3,246. These gains, though less dramatic than gold, contribute to a broader trend of precious metal appreciation.
Market Sentiment and Outlook
The ongoing increase in both gold and silver prices highlights persistent market volatility. Investors often turn to precious metals during times of economic uncertainty, inflation, or currency instability. As a result, demand has remained steady, keeping upward pressure on prices.
Jewellers See Higher Activity
Local jewellers report a noticeable uptick in customer interest, particularly from those looking to invest. While some buyers remain cautious, others are choosing to lock in purchases before further price hikes.
As the trend continues, all eyes remain on global economic indicators and monetary policies. For now, the sustained rise in the gold price in Pakistan signals confidence in precious metals as a reliable store of value.
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