Gold prices in Pakistan recorded an increase on Thursday. The rise followed gains in the international bullion market. Global economic uncertainty also supported the upward trend.
According to the All Pakistan Sarafa Gems and Jewellers Association, Gold prices for 24-karat per tola increased by Rs1,523. The new rate reached Rs469,285. The previous day’s price was Rs467,762.
The price of 10 grams of 24-karat gold also increased. It rose by Rs1,305 to reach Rs402,335. Earlier, it was recorded at Rs401,030. Meanwhile, 10 grams of 22-karat gold went up by Rs1,197. It reached Rs368,821 compared to Rs367,624.
In the global market, Gold prices also showed an upward movement. The international rate increased by $14.49 per ounce. It reached $4,468.49 compared to the previous $4,454 per ounce.
Silver, however, moved in the opposite direction. Local silver prices dropped by Rs97 per tola. The new rate stood at Rs7,797. Ten grams of silver also fell by Rs83 to Rs6,684.
In international trade, silver prices decreased by $0.91. The per ounce rate settled at $73.19.
Market analysts said Gold prices are rising due to safe-haven demand. Investors are turning to gold amid global economic instability. Geopolitical tensions are also influencing market behavior.
Analysts pointed to ongoing developments in the Middle East. These include a fragile ceasefire and diplomatic discussions involving major global powers. Such factors are increasing market uncertainty.
Experts believe investors are closely watching global events. These conditions often push demand for gold higher during uncertain times.
Despite short-term fluctuations, analysts remain positive about long-term trends. They say Gold prices usually perform well during inflation and currency pressure. Gold is also seen as a strong hedge against financial risks.
In other news read more about Gold Prices Slip as Middle East Tensions Fuel Inflation Concerns
The latest movement shows continued sensitivity in global commodity markets. Investors are expected to remain cautious in the coming days.
