KARACHI: The gold price continued its upward trend on Tuesday in both global and Pakistani markets, according to the All Pakistan Sarafa Gems and Jewellers Association (APSGJA).
The gold price for 24-karat per tola rose by Rs3,200, reaching Rs467,962. Similarly, the price of 10 grams of 24-karat gold increased by Rs2,743, closing at Rs401,201.
For 22-karat gold, the price of 10 grams climbed by Rs2,514, reaching Rs367,780. The rise in local rates reflects growing global demand and investor interest in precious metals amid economic uncertainty.
Internationally, gold prices increased by $32 per ounce, settling at $4,456. Analysts said the global uptick is fueled by shifting currency trends and sustained demand for safe-haven assets like gold.
Investors have been turning to gold as a hedge against inflation and economic fluctuations, contributing to the continued increase in the gold price. Market experts advise monitoring trends closely for buying or selling decisions.
Silver also experienced a notable increase. The price of 24-karat silver per tola rose by Rs338 to Rs8,361, while the 10-gram price increased by Rs290 to Rs7,168. Precious metals continue to attract interest as economic uncertainty drives demand.
Jewellers in major cities reported increased buying activity. They said customers are purchasing gold both for investment purposes and traditional celebrations, keeping the market active.
The APSGJA emphasized that fluctuations in global markets directly affect local gold prices, and traders must stay updated to make informed decisions. They also noted that local demand remains strong despite rising rates.
Experts predict that the gold price may continue to rise if global economic uncertainties persist and currencies remain volatile. They suggest buyers plan carefully and follow market updates regularly.
In other news read more about Why Are Gold Rates Falling Further in Pakistan?
In summary, both local and international markets are witnessing a steady increase in gold rates, reflecting ongoing investor confidence and the metal’s continued value as a secure investment.
