Gold prices in Pakistan surged on Tuesday, mirroring gains in the international market. The price per tola rose by Rs7,700 to reach Rs436,562, according to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA). Similarly, 10-gram gold was sold at Rs374,281, up Rs6,601 from the previous day.
On Monday, local gold prices remained stable at Rs428,862 per tola. Meanwhile, silver also saw an increase of Rs152, reaching Rs5,422 per tola.
Read more: Gold price remains unchanged
International gold extended gains to hit a one-week high, trading at $4,142 per ounce with a $20 premium. Spot gold rose 0.1% to $4,140.85 per ounce, building on a 1.8% jump on Monday.
Analysts attributed the rally to dovish comments from Federal Reserve policymakers, which revived expectations of a US interest rate cut in December. Despite a firm US dollar, investors moved toward gold as a safe-haven asset.
Read more: Gold prices drop in Pakistan amid global market weakness
The surge in gold prices highlights renewed investor appetite amid global economic uncertainty. Traders in Pakistan and abroad are closely watching international cues to gauge further movements in precious metals.