Gold price increases over Rs2,000 per tola in local market 

KARACHI: Gold prices in Pakistan rose on Saturday, following an upward trend in the international market as investors sought refuge in the precious metal amid renewed global tensions. 

According to data shared by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), the price of gold increased by Rs2,100 per tola to reach Rs422,700. Similarly, the price of 10-gram gold went up by Rs1,800, closing at Rs362,397. 

A day earlier, the yellow metal had slipped by Rs4,578 to settle at Rs420,600 per tola. Meanwhile, silver prices remained unchanged at Rs5,100 per tola. 

Global market lifts sentiment 

In the international market, gold prices edged higher, supported by a weaker US dollar and growing uncertainty over global trade and political developments. Spot gold traded around $3,989.49 per ounce, while US gold futures settled at $4,000.40. 

The metal briefly crossed the $4,000 mark earlier in the day after US President Donald Trump hinted at a new wave of tariffs on Chinese imports, reigniting fears of another trade war. “Heating up the trade war again will tank the dollar and be good for safe-havens,” said Tai Wong, an independent metals trader. 

Analysts noted that a falling dollar, concerns over a possible collapse of the French government, and the ongoing US government shutdown have all contributed to renewed demand for bullion. 

Gold’s bumpy ride in October 

Gold prices in Pakistan have shown sharp fluctuations since the start of October. The month began with a strong rally, with prices touching a then-record Rs425,178 per tola on October 8, before dipping slightly later in the week. 

The rise on Saturday reflects a continuation of gold’s overall bullish momentum, which has been driven by uncertainty in both global politics and financial markets. 

For many Pakistani investors, gold remains a traditional hedge against inflation and currency volatility, especially as the rupee continues to face pressure. 

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