Gold prices in Pakistan climbed to a fresh record on Tuesday, extending their strong upward momentum in the local bullion market. According to rates released by the All-Pakistan Gems and Jewellers Sarafa Association, the price of gold per tola increased by Rs. 900 to reach Rs. 481,862. At the same time, the price of 10-gram gold rose by Rs. 771 to settle at Rs. 413,118, reflecting sustained buying interest.
The latest increase followed a sharp rise a day earlier. On Monday, gold per tola had already jumped by Rs. 7,700 to close at Rs. 480,962. As a result, traders and investors have shown renewed interest in the precious metal, viewing it as a safer store of value during periods of economic uncertainty.
Market participants said higher demand from investors and jewellers continues to support prices. Moreover, fluctuations in the rupee-dollar exchange rate and expectations about inflation have also contributed to the rally. Consequently, many buyers have shifted more of their savings toward gold, which traditionally attracts strong demand in Pakistan during volatile periods.
Global prices support rally
International gold prices also moved higher and provided additional support to the domestic market. The global rate of gold increased by $9 to $4,595 per ounce, with a premium of $20 applied in local calculations. Analysts said rising global prices often translate into immediate gains in Pakistan, especially when combined with currency pressures.
Meanwhile, silver prices followed the same upward trajectory. The price of silver per tola rose by Rs. 180 to reach Rs. 9,075, marking continued strength across the precious metals sector. Traders noted that industrial demand for silver and investor interest have both played a role in lifting prices.
Looking ahead, dealers expect prices to remain volatile. However, they believe strong international trends and domestic demand could keep gold and silver elevated in the near term. Therefore, consumers planning purchases are closely monitoring daily rate movements.
