Gold prices hold steady in Pakistan following recent record highs

KARACHI: Gold prices in Pakistan remained stable today, with no change reported in either local or international markets.

The price of gold per tola in local bullion markets stayed at Rs 482,462, while 10 grams of gold remained at Rs 413,633. Likewise, silver prices saw no change, holding steady at Rs 9,425 per tola and Rs 8,080 per 10 grams.

Internationally, gold also showed no movement, with the price per ounce in the global bullion market unchanged at $4,601. Market experts noted that the stability in local prices reflects the lack of change in global rates.

This calm follows a period of dramatic increases earlier this week. On Jan 14, gold prices in Pakistan hit record highs, marking consecutive days of sharp gains. According to bullion market sources, the price of gold per tola surged by Rs 4,300, reaching Rs 486,162, while 10 grams rose by Rs 3,687 to Rs 416,805. Silver prices also reached historic levels, climbing to Rs 9,575 per tola.

Analysts attributed the recent surge to multiple factors, including rising international gold prices, volatility in the global economy, and a weakened local currency. Additionally, investors’ preference for gold as a safe-haven asset amid economic uncertainty has further fueled demand.

Despite record-high rates, bullion market activity remained strong, though experts cautioned that sustained high prices could affect consumer demand, particularly for weddings and other gold-related occasions. Jewelers warned that some buyers may choose to postpone purchases, potentially impacting short-term sales.

Market analysts continue to advise consumers and investors to monitor trends closely and exercise caution before making major gold or silver purchases, as the market remains sensitive to both global and local economic conditions.