Gold prices in Pakistan climbed for the fourth straight day

KARACHI: Gold prices in Pakistan climbed for the fourth straight day on Wednesday, driven by gains in international markets and rising local demand, dealers said.

In the local market, the price of 24-karat gold per tola rose by Rs1,300 to Rs541,262, while 10 grams of gold gained Rs1,114 to Rs464,044. Silver also strengthened, with per tola rates up Rs268 to Rs9,554 and 10-gram rates reaching Rs8,191, according to the All-Pakistan Gems and Jewellers Sarafa Association.

The increase follows a rise in international bullion prices, where gold per ounce jumped $13 to $5,185, amid safe-haven buying as investors weighed global financial volatility and geopolitical uncertainties.

Tuesday had already seen local gold prices rise, with per tola rates up around Rs3,400 to Rs539,962, reflecting the influence of rising international benchmarks that lifted bullion above $5,100 per ounce.

Traders said sustained demand from retail buyers and investors seeking hedges against inflation and currency swings was contributing to the continued upward trend. Analysts noted that local prices typically incorporate premiums over international spot rates, reflecting import costs, exchange rate changes, and domestic demand patterns.

Silver’s parallel gains, though smaller than gold, reflect a broader appetite for precious metals as both investment and industrial commodities. Market participants warned that while daily increases may seem moderate, the cumulative effect over several days has significantly lifted gold and silver prices in Pakistan.