Gold prices hit fresh high in Pakistan; PKR appreciates against USD

Gold prices continued their upward trend in both local and international markets, reflecting ongoing volatility in global commodities and currency movements.

According to the All Pakistan Sarafa Association, the price of gold per tola in the local market increased by Rs 800, pushing it to a new high of Rs 493,962. Similarly, the price of 10 grams of gold rose by Rs 686, reaching Rs 423,492.

The surge in domestic prices mirrors gains in the international bullion market, where gold climbed by $8 per ounce to reach $4,716, driven by persistent global economic uncertainty and investor demand for safe-haven assets.

Meanwhile, currency fluctuations also played a role in shaping local pricing. According to the Exchange Companies Association, the US dollar depreciated slightly by 2 paisa in the interbank market, settling at Rs 278.83. Despite this minor dip, pressure from global gold rates continues to keep domestic prices elevated.

Market analysts say the combined effect of rising international bullion rates and exchange rate instability is likely to keep gold prices volatile in the near term, with investors closely watching global economic signals.