Gold prices witnessed a sharp increase across Pakistan on Thursday, with the price of per tola gold rising by Rs5,000 amid an upward trend in the international bullion market.
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According to the All Pakistan Gems and Jewellers Association, the price of one tola of gold climbed to Rs475,362 following the latest increase. The association said gold rates continued to rise in line with fluctuations in global markets and investor demand for safe-haven assets.
The price of 10 grams of gold also recorded a significant jump, increasing by Rs4,287 to reach Rs407,546. Traders said persistent uncertainty in international financial markets and changing geopolitical conditions were contributing to volatility in precious metal prices.
In the global market, gold prices rose by $50 per ounce, taking the international rate to $4,530 per ounce. Analysts attributed the increase to renewed investor interest in gold amid concerns surrounding global economic stability, inflationary pressures and geopolitical tensions.
Local jewellers noted that rising international prices and currency fluctuations often have a direct impact on domestic gold rates in Pakistan. They added that buying activity in local markets generally slows when prices witness sudden sharp increases.
Gold is traditionally viewed as a safe investment during periods of uncertainty, leading investors to shift towards precious metals when financial markets become unstable. Market experts said global demand for gold has remained elevated in recent months due to concerns over inflation, interest rates and ongoing geopolitical developments.
The increase in gold prices has also affected jewellery buyers, particularly ahead of the wedding season, as higher rates continue to put pressure on consumer purchasing power.
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Bullion traders said market participants are closely monitoring international developments and currency movements, which are expected to influence future price trends in both global and domestic markets.
Further fluctuations in gold prices are likely depending on investor sentiment and broader economic conditions worldwide.