The Gold price in Pakistan increased on Saturday, July 18, following gains in the international bullion market. Rising geopolitical tensions in the Middle East and uncertainty over US interest rates contributed to the latest increase.
According to the All Pakistan Sarafa Gems and Jewellers Association (APSGJA), the price of 24-karat gold per tola rose by Rs2,400. After the increase, one tola of gold was priced at Rs424,236.
The price of 10 grams of 24-karat gold also moved higher. It increased by Rs2,057 to reach Rs363,713.
Similarly, 10 grams of 22-karat gold gained Rs1,885. The new price for 10 grams of 22-karat gold now stands at Rs333,415.
The latest Gold price increase in Pakistan followed positive movement in the global bullion market.
In the international market, gold rose by $24 per ounce. The global price reached $4,018 per ounce during trading.
Silver prices also recorded gains in both local and international markets.
In Pakistan, the price of silver per tola increased by Rs41, reaching Rs6,070. Meanwhile, the price of 10 grams of silver rose by Rs36 to Rs5,204.
Globally, silver gained $0.41 per ounce and reached $55.91 per ounce, according to APSGJA.
Market analysts said investors are closely watching the ongoing conflict in the Middle East. Growing regional tensions have increased demand for safe-haven assets such as gold.
The latest developments followed fresh attacks launched by Iran on US allies in the Gulf after several consecutive nights of US strikes targeting Iranian military sites.
The conflict also affected Kuwait, where repeated missile and drone attacks disrupted operations at a desalination plant. Kuwait International Airport also temporarily suspended flight operations due to the security situation.
The rising conflict has pushed energy prices higher. Brent crude oil prices have increased by around 16 percent over the past week.
Higher oil prices have raised concerns about global inflation. This has led investors to closely monitor future decisions by the US Federal Reserve.
Many analysts believe US interest rates could remain higher for a longer period. Higher interest rates usually reduce demand for gold because investors often shift toward interest-bearing assets.
As a result, the Gold price continues to face pressure from monetary policy expectations despite gaining support from geopolitical uncertainty.
Experts expect gold prices to remain volatile in the coming weeks. Future price movements will likely depend on developments in the Middle East, changes in the US dollar, upcoming economic data, and interest rate decisions by major central banks.
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Gold has traditionally been viewed as a safe-haven investment during periods of global uncertainty. However, analysts say both geopolitical risks and monetary policy will continue to influence market trends in the near future.
