KARACHI: Gold prices increased in Pakistan on Saturday, following a strong upward trend in the global bullion market. The rise was reported by the All Pakistan Sarafa Gems and Jewellers Association.
In the local market, the price of 24-karat Gold per tola went up by Rs11,700. It reached a new level of Rs519,462. The price of 10 grams of 24-karat Gold also climbed. It increased by Rs10,030 to Rs445,354.
Silver prices also showed an upward movement. The rate per tola rose by Rs444 and reached Rs8,269.
Internationally, Gold prices moved higher as well. The metal gained $117 and was traded at $4,967 per ounce. Analysts say this rise reflects strong investor demand.
Experts believe the long-term outlook for Gold remains positive. Global economic uncertainty is one of the main reasons. Many investors prefer safe-haven assets during unstable times.
Gold is often seen as a hedge against inflation. It also protects wealth during currency weakness. Its limited supply makes it valuable in the long run.
Market analysts said Gold continues to attract both small and large investors. People are looking for stability in uncertain global conditions. This has pushed demand higher.
Geopolitical tensions have also supported the price increase. According to research analyst Jigar Trivedi, recent events in the Middle East boosted Gold’s appeal. Investors became cautious after reports of military activity.
The US military recently confirmed it shot down an Iranian drone. The drone had approached a US aircraft carrier in the Arabian Sea. This incident raised regional concerns.
At the same time, nuclear talks between the US and Iran are ongoing in Oman. These discussions have created mixed signals in global markets. Investors are closely watching the outcome.
Gold usually benefits from such situations. When political risks increase, demand for safe assets grows. This trend has been seen in recent weeks.
In Pakistan, rising Gold prices also reflect international movements. The local market often follows global trends. Currency exchange rates also play a role.
Jewellers say consumer interest remains strong. Many buyers still see Gold as a secure store of value. It is also popular for weddings and savings.
Experts advise investors to stay informed. While prices are high, market conditions can change. However, Gold remains one of the most trusted assets worldwide.
In other news read more about Gold Prices Slide in Pakistan as Per Tola Rate Drops by Rs21,400
Overall, the steady rise shows strong confidence in Gold. As long as uncertainty continues, demand is likely to stay firm.
