KARACHI: Gold prices jump in Pakistan on Thursday after a strong increase in the international bullion market. The local market followed the global trend as bullion prices recorded a significant rise.
According to the All Pakistan Sarafa Gems and Jewellers Association, the price of 24-karat gold per tola increased by Rs11,300. The new price reached Rs449,236 per tola.
The price of 10 grams of 24-karat gold also moved higher. It gained Rs9,688 to settle at Rs385,147. Meanwhile, the price of 10 grams of 22-karat gold increased by Rs8,881, reaching Rs353,064.
The latest increase came after international gold prices recorded a sharp rise. The association reported that gold climbed by US$113 in the global market. The precious metal reached US$4,268 per ounce, providing strong support to local rates.
The Gold prices jump was also accompanied by gains in the silver market. In Pakistan, silver prices increased by Rs35 per tola, taking the rate to Rs6,659. The price of 10 grams of silver also rose by Rs30 to Rs5,709.
International silver prices also posted gains. Silver increased by US$0.35 and reached US$61.80 per ounce.
Market analysts said the recent rise in gold prices was supported by a weaker US dollar. A lower dollar makes gold more affordable for buyers using other currencies. This often increases demand for the precious metal in international markets.
Experts also noted that investors remain focused on geopolitical developments. Ongoing tensions in the Middle East continue to influence global financial markets. Reports of attacks on Saudi oil tankers in the Red Sea and the Gulf of Aden have renewed concerns about global oil supplies.
At the same time, oil prices remained mostly steady. Traders are closely watching diplomatic efforts involving Iran and Oman. Markets are assessing whether these talks could help restore shipping through the Strait of Hormuz.
Qatar also said mediators are making progress in efforts to reduce tensions after the recent US-Iran conflict. However, Iran rejected claims by US President Donald Trump that negotiations had already begun.
Kelvin Wong, Senior Market Analyst at OANDA, said gold continues to maintain a close relationship with oil prices. He explained that changes in oil prices affect inflation and the global economy. According to Wong, a clearer path toward easing regional tensions could influence future movements in gold prices.
Analysts believe Gold prices jump could be followed by further volatility in the coming days. Investors are expected to monitor geopolitical events, movements in the US dollar, major economic data, and interest rate decisions by central banks.
In other news read more about Gold Rates Jumps Rs10,000 Per Tola in Pakistan as Global Rates Surge
Gold is widely considered a safe-haven asset during periods of economic and political uncertainty. Because of this, its price often reacts quickly to changes in global risk sentiment, inflation expectations, and monetary policy. As international conditions continue to evolve, the local gold market is also expected to remain sensitive to global developments.
