Gold prices continued their upward trend in Pakistan on Saturday, with the price of 24-karat gold increasing by Rs2,400 per tola, following gains in the international bullion market.
Read More: Gold rate drops Rs3,600 per tola in Pakistan
According to the All Pakistan Gems and Jewellers Association (APGJA), the price of one tola of gold rose to Rs424,236, reflecting the latest increase in domestic bullion rates.
The association also reported that the price of 10 grams of 24-karat gold climbed by Rs2,057, reaching Rs363,713 across local markets.
The rise in local gold prices comes as international bullion rates also moved higher. In the global market, the price of gold increased by $24 per ounce, taking it to $4,018 per ounce.
Gold prices in Pakistan are largely influenced by trends in the international market, along with fluctuations in the exchange rate of the Pakistani rupee against the US dollar. Changes in global economic conditions, inflation expectations, central bank policies, and geopolitical developments also play a significant role in determining bullion prices.
The latest increase follows heightened uncertainty in international financial markets, where investors have continued to seek safe-haven assets amid ongoing geopolitical tensions and economic concerns. Gold traditionally attracts strong demand during periods of market volatility as investors look to protect their wealth.
Jewellers say frequent fluctuations in gold prices continue to affect domestic demand, with many buyers delaying purchases in anticipation of greater price stability. However, investment interest in gold generally rises during periods of uncertainty.
Read More: Gold prices rise by Rs 400 per tola
Market analysts note that future movements in gold prices will depend on global economic data, interest rate expectations, currency trends, and developments in international conflicts, all of which influence investor sentiment in the precious metals market.
Consumers planning to purchase gold are advised to check the latest market rates before making buying decisions, as bullion prices can change on a daily basis.