Gold prices continued their upward trend in Pakistan for the second consecutive day. The increase follows a strong rise in the international bullion market, pushing local rates close to a record level.
According to data from the All Pakistan Gems and Jewellers Association, the price of Gold per tola increased by Rs4,600. This brought the new rate to Rs499,962, just below the Rs500,000 mark. The steady rise reflects growing demand and global market pressure.
The price of 10 grams of Gold also saw a significant jump. It increased by Rs3,943, reaching Rs428,636. Traders noted that the upward movement is closely linked to international price trends.
In the global market, Gold prices rose sharply. The rate increased by $46 per ounce, reaching around $4,776. Analysts say geopolitical tensions and economic uncertainty are driving investors toward safe-haven assets like gold.
Silver prices also followed a similar trend in Pakistan. The per tola rate of silver increased by Rs326, reaching Rs8,260. This indicates a broader rise in precious metal prices across the market.
Experts believe that global developments are playing a key role. Tensions in the Middle East and uncertainty in energy markets are influencing investor behavior. Many investors prefer gold during unstable conditions, which pushes prices higher.
At the same time, global oil prices showed a different trend. Oil rates declined amid speculation of possible diplomatic progress between the United States and Iran. Despite ongoing tensions near the Strait of Hormuz, hopes for talks reduced supply concerns.
Benchmark crude prices dropped after a recent surge. WTI crude fell to $96.76 per barrel, while Brent crude declined to $97.91. The earlier rise in oil was linked to military actions affecting supply routes.
Market analysts say the mixed movement in oil and Gold highlights shifting global trends. While energy markets respond to supply risks, gold benefits from uncertainty and investor caution.
In Pakistan, rising Gold prices are affecting buyers and traders. Higher rates may reduce demand for jewelry but increase investment interest. Many people see gold as a secure option during economic instability.
In other news read more about: Gold Prices Drop by Rs1,600 per Tola in Pakistan
If global trends continue, Gold prices may cross the Rs500,000 mark soon. Experts advise investors to monitor international markets closely before making decisions.
