Rising international bullion rates likely to push 24-carat gold prices higher in Pakistan
KARACHI: Global gold prices surged sharply on Tuesday, with international bullion markets recording an increase of $107 per ounce, taking prices above the $5,200 threshold. This follows a $30-per-ounce gain recorded on Monday, when gold traded at $5,138.
The rise in global gold rates is expected to impact Pakistan’s domestic market. On Monday, 24-carat gold per tola was priced at Rs 534,562, reflecting gains fueled by rising international demand and market volatility. Analysts anticipate further increases in local gold rates in the coming days.
In the domestic market, 24-carat gold per tola jumped by Rs 7,100 to Rs 533,562, while 10 grams surged by Rs 6,087 to reach Rs 457,443. Silver also advanced, with prices per tola climbing Rs 374 to Rs 8,948, and 10 grams reaching Rs 7,671.
Global market experts link the renewed surge to persistent economic uncertainty, continued demand in investment and jewelry sectors, and reactions to shifting geopolitical dynamics. Earlier in the week, gold had declined following signs of easing US-Iran tensions and a stronger US dollar, with spot gold falling over 2% below key psychological levels.
“The market is reacting to both global economic concerns and renewed investor interest in gold as a safe-haven asset,” said a commodities analyst. “Local prices in Pakistan are likely to follow the global momentum.”
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