Gold prices in Pakistan surged on Tuesday, mirroring global market trends after consistent declines. The unexpected rise has sparked investor interest, hinting at shifting market dynamics and potential opportunities for buyers navigating the volatile precious metals landscape.
Local bullion market reports indicate a sharp rise in gold prices, with 24-karat gold per tola increasing by Rs2,200 to Rs350,100, rebounding from last week’s decline. Ten grams of 24-karat gold rose by Rs1,850 to Rs300,125, while 10 grams of 22-karat gold reached Rs275,115, reflecting a robust recovery in the precious metal’s value.
Silver prices, however, remained relatively stable, with 24-karat silver holding steady at Rs3,500 per tola. On the international front, gold prices mirrored the upward trend, gaining $20 to hit $3,315 per ounce, driven by global economic factors and investor sentiment.
Market analysts attribute the price surge to renewed demand and fluctuations in global currency markets. “The recent dip in gold prices created a buying opportunity, and investors have responded swiftly,” said a Karachi-based gold dealer. “With international prices also trending upward, Pakistan’s market is reflecting these broader movements.”
The price fluctuations continue to impact consumers, particularly those purchasing gold for jewelry and wedding preparations. While the recent increase may deter some buyers, others view it as a sign of gold’s enduring value as a safe-haven asset.
As the market remains volatile, traders advise keeping a close watch on both local and global trends for future investment decisions.
