After a period of continuous decline, gold prices in Pakistan recorded a sharp increase on Saturday, reflecting similar gains in the international market.
According to the All Pakistan Gems & Jewellers Association, the price of one tola of gold rose by Rs1,800, reaching Rs433,662. Meanwhile, the price of 10 grams of gold went up by Rs1,543, now standing at Rs371,795.
In the global market, the price of gold increased by $18, bringing it to $4,113 per ounce. Analysts attribute this rise to renewed investor interest in safe-haven assets amid global economic uncertainty and ongoing geopolitical tensions.
Market observers said the rebound comes after several weeks of declining gold prices, driven by strengthening global currencies and lower demand. However, the latest surge indicates a shift in market sentiment, as traders and investors move back toward precious metals to hedge against inflation and currency fluctuations.
Jewellers in Pakistan reported an uptick in customer interest following the price movement, though they noted that overall sales remain moderate due to the already high price level.
Experts suggest that fluctuations in the international market, the strength of the US dollar, and local currency depreciation continue to play a major role in determining gold prices in Pakistan.
They also anticipate further volatility in the coming weeks as global markets react to shifting monetary policies and political developments.
Despite the recent rise, traders remain cautious about predicting a long-term upward trend, citing potential corrections in international gold rates and local demand patterns.
For many investors, gold remains a key hedge against uncertainty, particularly in developing markets like Pakistan, where inflation and currency pressures continue to affect purchasing power.
As of now, the market outlook for gold remains mixed, but the latest surge has reignited optimism among bullion traders and investors.
