Per Tola Gold Jumps by Rs3,700 in Local Bullion Market
Gold prices witnessed a sharp surge in Pakistan on the back of rising international rates and renewed investor demand. According to the Sarafa Bazaar Association, the price of gold per tola increased by Rs3,700 in a single session. The new per tola rate settled at Rs473,262, marking one of the strongest daily gains in recent weeks.
The price of 10 grams of gold also moved higher. It rose by Rs3,172 to close at Rs405,745 in the local market. Traders said the sharp rise reflects global price movements and local currency pressures. Bullion dealers reported increased buying interest from investors seeking safe-haven assets amid economic uncertainty.
Market participants noted that gold demand remained firm despite higher prices. Many buyers consider gold a hedge against inflation and currency depreciation. Jewelers, however, said retail demand for jewelry slowed as prices climbed rapidly. Investment-driven buying remained strong across major cities, including Karachi, Lahore, and Islamabad.
Silver prices also showed mixed movement, though gold dominated market attention. Analysts said the bullion market remains volatile and sensitive to international cues.
Global Gold Rates Climb to $4,509 Per Ounce
International gold prices also recorded a strong upward move. In the global bullion market, gold increased by $37 per ounce to reach $4,509. This rise followed another strong session a day earlier, when gold had already climbed by $34 to settle at $4,472 per ounce.
Experts said the rally is driven by multiple global factors. These include expectations of lower interest rates, geopolitical tensions, and continued buying by central banks. Investors are shifting funds into gold as uncertainty persists in global financial markets.
The weakening of major currencies against the US dollar has also played a role. Gold often benefits when currency markets remain unstable. Additionally, concerns over inflation and slowing global growth continue to support precious metal prices.
Market analysts believe that sustained global demand could keep prices elevated in the near term. However, they also warned of possible short-term corrections due to profit-taking.
Outlook for Gold Prices in Pakistan
In Pakistan, local gold prices closely track international trends. Exchange rate movements further amplify price changes. A weaker rupee against the dollar tends to push domestic gold prices higher, even when global gains are moderate.
Bullion traders said price volatility may continue in the coming days. Any further increase in global rates could lift local prices again. On the other hand, sudden corrections in international markets may bring temporary relief for buyers.
Economists noted that rising gold prices often reflect broader economic stress. Investors typically move toward safe assets during uncertain periods. In Pakistan, high inflation and economic challenges have strengthened gold’s appeal as a store of value.
Despite record-high prices, long-term investors remain active. Many believe gold will retain its strength due to ongoing global risks. Short-term buyers, however, are advised to remain cautious due to rapid price swings.
As global markets respond to economic data and policy signals, gold prices are expected to remain in focus. Both investors and consumers are closely watching the next move in international bullion rates.
