Gold prices in Pakistan rose by Rs1,500 per tola on Tuesday, following global market trends. The local gold rate reached Rs416,778 per tola, according to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA). Similarly, 10-gram gold increased by Rs1,286, closing at Rs357,319. This rise came after a significant Rs5,400 jump on Monday, showing continued upward momentum.
International gold prices also climbed, trading at $3,955 per ounce with a $20 premium. The price gained $15 during the day, supporting the local market surge. Spot gold hit a fresh high of $3,977.19 earlier on Tuesday, before settling around $3,960 per ounce. These international gains reflect strong global demand and increased central bank purchases.
Read more: Gold price increases by Rs 5,400 per tola
Despite the rise in gold, silver prices dropped by Rs20 per tola to Rs4,929 in Pakistan. This contrast shows differing market dynamics for precious metals. The silver market remains relatively stable compared to gold’s sharp movements. Traders continue to watch both metals closely amid changing global conditions.
Gold prices have climbed 51% this year, driven by several key factors. Central banks worldwide have increased gold buying, while demand for gold-backed ETFs has grown. A weaker US dollar and rising geopolitical tensions have also pushed retail investors toward gold. These trends are likely to keep gold prices elevated for the near future.
Read more: Gold price jumps Rs2,100 per tola in Pakistan
Overall, the rise in gold prices signals strong investor interest and economic caution. Pakistani buyers and traders remain influenced by global shifts and local market reactions. The precious metals market continues to serve as a hedge against inflation and geopolitical risks. Many expect these prices to stay volatile in the coming months.