KEY POINTS
- Gold prices in Pakistan rose for second consecutive session.
- The per tola rate climbed Rs 14,800 to reach Rs 529,162, while 10-gram gold closed at Rs 453,671.
- International gold prices gained $148 per ounce, providing strong support to local rates.
- Silver prices also advanced, highlighting broader trend in domestic precious metals market.
ISLAMABAD: Gold prices in Pakistan extended a two-day recovery on Wednesday, gaining Rs 14,800 per tola to settle at Rs 529,162, according to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA).
This followed a sharp rebound of Rs 24,000 per tola on Tuesday, marking a return of bullish sentiment after a brief period of selling pressure in the local bullion market.
The 10-gram gold price also rose by Rs 12,689 to reach Rs 453,671, underlining sustained demand from retail and institutional buyers seeking a safe-haven investment amid ongoing market uncertainties.
Analysts said the rebound is closely aligned with international trends.
Global gold prices advanced $148 to $5,064 per ounce, including a $20 premium, supported by concerns over currency volatility, geopolitical tensions, and uncertainty around interest rate policies in major economies.
Over the past month, Pakistan’s local gold market experienced intermittent fluctuations, with sharp intraday swings driven by global cues and domestic demand patterns.
The current recovery has been bolstered by renewed investment appetite, particularly from exporters and jewellers looking to hedge against currency depreciation and inflation.
Silver also gained Rs 109 on Wednesday, reaching Rs 9,255 per tola, as investors diversified into alternative precious metals amid the recent rally in gold.
Market observers note that despite short-term volatility, the local bullion market remains sensitive to international gold movements, the strength of the Pakistani rupee, and regional geopolitical developments, making safe-haven metals an attractive option for investors.
