Gold Prices Rise sharply in Pakistan as international bullion rates continue their strong upward movement. The latest increase was recorded on Saturday, August 22.
According to the All Pakistan Sarafa Gems and Jewellers Association (APSGJA), 24-karat gold became more expensive. The price increased by Rs5,700 per tola.
Following the latest increase, one tola of 24-karat gold reached Rs482,936. The previous rate stood at Rs477,136 per tola.
The price of gold also increased on a 10-gram basis. The rate for 24-karat gold rose by Rs4,972.
After the latest change, 10 grams of 24-karat gold reached Rs414,039. It was previously available at Rs409,067.
Gold Prices Rise in the local market as global bullion rates also recorded a significant gain. International gold prices increased by $57 per ounce.
According to APSGJA, international gold reached $4,604 per ounce. It had closed at $4,547 in the previous session.
The latest movement comes amid continued geopolitical uncertainty in the Middle East. Investors are closely watching developments involving Iran and the United States.
Tensions between Washington and Tehran remain high as both sides continue exchanging strong statements. The situation has increased uncertainty across international financial markets.
The United States and Iran are also facing renewed tensions over economic sanctions. Washington is scheduled to announce new sanctions on Monday.
The expected measures could affect Iran and some of its major trading partners. China is among the countries that could face an impact from the new restrictions.
The ongoing regional situation has also affected energy markets. Oil shipments through the Strait of Hormuz have nearly come to a halt.
Iran has reportedly threatened to target unauthorised oil tankers attempting to use the strategic waterway. The development has added to concerns about global energy supplies.
Investors often turn toward precious metals during periods of uncertainty. Gold can attract demand when concerns increase across financial and geopolitical markets.
The latest international rally therefore provided support to domestic gold prices. Currency movements and global bullion rates can also influence prices in Pakistan.
Silver Prices Remain Unchanged
Unlike gold, silver prices remained stable in the local market. The price of silver stayed at Rs7,379 per tola.
The unchanged silver rate came despite the sharp increase in gold prices. Market participants continue to monitor international developments for further changes.
The situation in the Middle East remains a key factor for global markets. Any major development could influence bullion and other commodity prices.
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Gold Prices Rise in Pakistan have therefore reflected the strong international market movement. Traders and investors are expected to closely follow global prices in coming sessions.
