Gold prices in Pakistan surged once again on Tuesday, continuing the upward momentum witnessed both locally and globally. The hike comes just a day after a major increase, pushing rates to new highs.
According to the All Pakistan Sarafa Gems and Jewellers Association, the price of 24-karat gold per tola rose by Rs1,000, now standing at Rs354,100. Similarly, the price of 10 grams of 24K gold increased by Rs857, bringing the rate to Rs303,583.
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Global Market Trends
On the international front, gold prices experienced a moderate rise. The price per ounce of gold climbed by $10, reaching $3,357, signaling a continued global trend towards precious metal investments amid economic uncertainty.
Silver Prices Also Climb
Silver followed a similar pattern, with the price of a tola of 24-karat silver increasing by Rs130, reaching Rs3,586. Meanwhile, 10 grams of silver rose to Rs3,074.
Experts attribute the ongoing rally in gold prices to fluctuating currency values, geopolitical instability, and persistent global inflationary concerns. In Pakistan, economic uncertainty and rupee depreciation are further fueling the domestic price hike.
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With markets facing volatility, investors are increasingly turning to gold as a safe-haven asset, resulting in heightened demand and higher prices both in Pakistan and abroad.
