Gold Prices Climb in Pakistan, Following International Market Upswing
Gold prices in Pakistan saw a notable increase on Wednesday, in line with gains in the international bullion market, reversing some of the losses recorded earlier this week.
According to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA):
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Gold price per tola rose by Rs600, reaching Rs352,900
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10-gram gold increased by Rs514, settling at Rs302,554
The price recovery comes just a day after gold had plunged Rs6,100 per tola, closing at Rs352,300 on Tuesday, amid high volatility in both local and global markets.
Global Gold Prices Edge Higher
On the international front, gold continued its upward trend:
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Spot gold was priced at $3,345 per ounce
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This marked a $6 increase for the day
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The APGJSA noted a $20 premium over the base rate, reflecting strong global demand and limited supply
The rise was attributed to geopolitical uncertainties, currency fluctuations, and continued investor interest in safe-haven assets, particularly as central banks remain cautious on monetary easing.
Silver Prices Hold Steady
While gold witnessed price action, silver remained stable in the local market:
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Silver price per tola stood at Rs3,745
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10-gram silver was unchanged at Rs3,211.44
The steady silver rates suggest a muted demand compared to gold, although any spillover from gold’s upward momentum may eventually affect silver valuations as well.
What This Means for Investors and Buyers
The recent rebound in gold prices may influence both retail buyers and bullion investors who were eyeing the dip for potential entry. With international gold prices trending upwards and the local rupee remaining under pressure, further price increases cannot be ruled out.
For consumers, particularly ahead of the wedding season and Eid-related purchases, price sensitivity may impact gold jewellery demand in the short term.
Conclusion: Watch the Global Cues
As Pakistan’s gold market remains closely linked to global commodity trends, even small fluctuations internationally can have outsized local effects. With gold back on the rise and silver staying flat, the precious metals market remains dynamic, requiring keen attention from investors, traders, and buyers alike.
