Gold prices in Pakistan recorded a sharp increase on Tuesday, reflecting a strong upward trend in the international bullion market. The latest rise pushed the price of 24-karat gold significantly higher, adding to the gains witnessed a day earlier.
The increase also affected gold rates for 10 grams, while silver prices continued their upward movement in the local market.
Gold Price Climbs by Rs4,700 Per Tola
The price of 24-karat gold increased by Rs4,700 per tola, taking the new market rate to Rs429,236.
Similarly, the price of 10 grams of 24-karat gold rose by Rs4,029, reaching Rs368,000.
The latest increase follows Monday’s gain, when gold prices climbed by Rs300 per tola to settle at Rs424,536. Consequently, the precious metal has continued its upward momentum over consecutive trading sessions.
International Market Drives Local Gold Rates
The rise in Pakistan’s gold prices came after international bullion rates moved higher.
In the global market, gold gained $47 per ounce, taking the international price to $4,068 per ounce, including a premium of $20.
As local gold prices generally follow international market trends, the global increase contributed directly to Tuesday’s sharp rise in domestic rates.
Silver Prices Also Move Higher
Meanwhile, silver prices also recorded a notable increase.
The price of silver rose by Rs219 per tola, bringing the new market rate to Rs6,396.
The simultaneous rise in gold and silver indicates continued strength in the precious metals market.
Precious Metals Continue Upward Trend
The latest increase reflects ongoing movement in global bullion markets, which continues to influence domestic prices. Moreover, investors and buyers are closely monitoring international developments that affect precious metal rates.
With gold recording another substantial gain, market participants will continue watching future price movements in both local and international markets.
