Gold prices in Pakistan continued their upward trend for the second straight day on Tuesday. The increase comes amid rising demand and stronger international bullion rates.
According to data from the All Pakistan Gems and Jewellers Association, Gold prices in the local market rose significantly. The per tola rate increased by Rs4,600, reaching Rs499,962.
Similarly, Gold prices for 10 grams also went up by Rs3,943. The new rate settled at Rs428,636, reflecting continued pressure from global market movements.
Experts say the rise is linked to fluctuations in the international bullion market. The global price of gold also saw a notable increase of $46 per ounce. The international rate is now hovering around $4,776 per ounce.
The steady rise in Gold prices has kept the local market active. Traders say demand remains strong despite record-high levels. Buyers are closely watching further movement before making large purchases.
Silver also followed an upward trend in the local market. The per tola price of silver increased by Rs326, reaching Rs8,260. This shows that precious metals are gaining overall strength.
Market analysts say global economic uncertainty is supporting higher bullion values. Investors often turn to gold during periods of instability, which impacts Gold prices worldwide.
Meanwhile, energy markets showed a different trend. Global oil prices declined after speculation of possible diplomatic progress between the US and Iran. This reduced some of the earlier pressure in commodity markets.
Crude oil benchmarks fell after a strong rally earlier in the week. West Texas Intermediate dropped by $2.32 to $96.76 per barrel. Brent crude also fell by $1.45 to $97.91 per barrel.
Despite this decline in energy markets, Gold prices remained firm. Analysts believe gold is currently benefiting from its safe-haven status.
Earlier in the week, crude oil had surged due to geopolitical tensions and supply concerns. However, easing expectations of conflict helped stabilize oil trading.
Market watchers expect Gold prices to remain sensitive to global economic and political developments. Any new shifts in international conditions could further influence the trend.
For now, investors in Pakistan continue to face record-high bullion rates as the market maintains its upward momentum.
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