Pakistan’s gold market witnessed a strong recovery on Tuesday as gold prices increased significantly after a rise in international gold rates. The increase comes just a day after gold prices had fallen sharply, showing that the precious metal continues to experience fluctuations due to changes in global market conditions.
According to the All Pakistan Sarafa Gems and Jewelers Association, the price of gold per tola increased by Rs. 2,830, bringing the new rate to Rs. 455,063 per tola. This recovery helped gold regain a large portion of the losses recorded during the previous trading session.
The price of 10 grams of gold also moved upward, increasing by Rs. 2,547 to reach Rs. 389,534. The rise reflects renewed strength in both local and international gold markets.
Just a day earlier, on Monday, gold prices had dropped by Rs. 3,094 per tola, with the rate settling at Rs. 452,222. The latest increase has therefore reversed most of that decline and brought gold prices closer to their recent highs.
Market experts say that local gold prices in Pakistan are heavily influenced by international bullion rates and the exchange rate of the Pakistani rupee against the US dollar. Any movement in global markets is usually reflected in domestic prices within a short period.
In the international market, gold prices also showed improvement. The price of gold increased by $28 per ounce, reaching $4,326 per ounce. Analysts believe that growing uncertainty in global financial markets, concerns about inflation, and investor demand for safe-haven assets contributed to the increase.
Gold is often considered a safe investment during periods of economic uncertainty. When investors become concerned about inflation, geopolitical tensions, or economic slowdowns, they tend to move their money into gold, which pushes prices higher.
The rise was not limited to gold alone. Silver prices also increased on Tuesday. The price of silver gained Rs. 141 per tola, taking it to Rs. 7,314 per tola in the local market.
Jewelry traders and bullion dealers noted that customer activity remains mixed. While some buyers are waiting for prices to stabilize before making purchases, others continue to invest in gold due to expectations that prices could rise further in the coming weeks.
Industry observers say the direction of gold prices in the coming days will depend largely on international economic developments, central bank policies, inflation data, and currency movements. Any major changes in these factors could lead to further fluctuations in both gold and silver prices.
For now, Tuesday’s increase has provided relief to investors and traders after Monday’s decline, once again highlighting the volatile nature of precious metal markets. Gold remains one of the most closely watched investment assets in Pakistan, especially during periods of economic uncertainty and financial market volatility.
