Local bullion markets mirror global price rally as investors respond to international volatility
Karachi: Gold prices in Pakistan continued their upward trajectory on Tuesday, reaching fresh highs as strong gains in the international market pushed local bullion rates higher, according to market dealers.
In the domestic market, the price of gold per tola jumped by Rs2,800, settling at Rs478,762 compared to Rs475,962 in the previous session. Similarly, the rate for 10 grams of gold increased by Rs2,401 to Rs410,461, up from Rs408,060 a day earlier.
The sharp rise in local prices followed a significant increase in global bullion markets, where gold gained $28 per ounce to reach $4,560. Analysts say international economic uncertainty and investor demand for safe-haven assets are key drivers behind the surge.
Silver prices also recorded notable gains in both global and local markets. Internationally, silver climbed to $73 per ounce. In Pakistan, silver per tola rose by Rs260 to Rs7,784, while the price of 10 grams increased by Rs223 to Rs6,673.
Market experts noted that the persistent upward trend reflects ongoing volatility in global financial markets. Local bullion rates, they added, remain closely tied to international price movements, making them highly sensitive to global economic shifts and currency fluctuations.
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