KEY POINTS
- 24K gold rate climbs to Rs 435,100 per tola, APSGJA data show
- Prices follow international bullion rally and local currency softness
- Jewellers report stronger seasonal demand ahead of wedding season
- Analysts warn of volatility as global investors seek safe-haven assets
ISLAMABAD: Gold prices in Pakistan rose on Tuesday, tracking gains in the international bullion market and a softening rupee, with the 24-karat gold rate reaching Rs 435,100 per tola.
According to figures released by the All Pakistan Sarafa Gems and Jewellers Association (APSGJA), the price per 10 grams of 24K gold increased to Rs 373,028, marking a steady rise in domestic bullion markets after a brief correction last week.
Jewellers attributed the increase to both global price movements and seasonal buying trends ahead of the wedding and festival season.
Internationally, the spot gold market is trading at approximately $3,753 per troy ounce, according to goldprice.org’s live quotes.
The surge in domestic gold prices is closely tied to the dollar’s strength and global bullion trends,” a Karachi-based jeweller told Dawn, adding that import constraints and currency volatility continue to influence local rate-setting.
Market observers noted that the recent rise comes after weeks of fluctuating prices, which had briefly eased in early October following profit-taking in global markets.
However, renewed uncertainty in regional markets and concerns over inflation have driven renewed investment into safe assets.
Analysts also cautioned that local gold prices could remain volatile in the short term, particularly if the rupee weakens further or international demand intensifies.
“As long as uncertainty persists, investors are likely to view gold as a hedge against inflation and currency risks,” an economist told Business Recorder.
The APSGJA — the national body representing bullion traders and jewelers — issues daily indicative prices based on London bullion market movements and local exchange rate adjustments.
Its rates are used as a reference benchmark by Sarafa markets across major cities, including Karachi, Lahore, Islamabad, and Peshawar.
