KEY POINTS
- 24K gold per tola climbs to Rs 436,562, up Rs 7,700.
- 10-gram 24K gold rises to Rs 374,281.
- International gold hits more than one-week high at $4,142 per ounce.
- Silver prices also increased to Rs 5,422 per tola.
ISLAMABAD: Gold prices in Pakistan soared significantly on Tuesday, following a surge in the international market, according to the All Pakistan Gems, Jewellers & Sarafa Association (APGJSA).
The price of 24-karat gold per tola rose by Rs 7,700 to reach Rs 436,562, while the 10-gram 24K gold price climbed by Rs 6,601 to Rs 374,281.
On Monday, gold prices had remained stable at Rs 428,862 per tola in the local market. The All Pakistan Gems and Jewellery Sarafa Association (APGJSA) reported that this domestic trend mirrored international movements, where spot gold surged by $77, reaching $4,142 per ounce.
This level marks the highest price since November 14. The increase is attributed to dovish signals from policymakers at the US Federal Reserve, which have rekindled expectations of a potential interest rate cut in December.
Silver prices also gained, with 24K silver per tola rising from Rs 152 to Rs 5,422, according to the APGJSA.
Market Drivers & Outlook
The APGJSA highlighted that safe-haven buying, coupled with global economic uncertainty and domestic currency movements, contributed to the price increase.
Analysts expect continued demand for precious metals if international volatility persists and investors seek hedges against currency and market risks.
