Gold prices surge by Rs6,100 per tola

KARACHI: Gold prices in the local market surged by Rs6,100 per tola on Tuesday, continuing an upward trend spurred by a rally in the international bullion market.

According to the All Pakistan Sarafa Gems and Jewellers Association, the price of gold climbed to Rs356,100 per tola, while the 10-gram gold price rose by Rs5,232 to Rs305,300.

This sharp increase mirrors developments in the global market, where gold prices jumped by $61 to settle at $3,377 per ounce. Local gold prices are typically adjusted with a $20 premium over international rates to account for import costs, logistics and market dynamics.

Bullion traders attributed the latest rise to growing investor appetite for safe-haven assets in the wake of renewed geopolitical tensions and global economic uncertainty. The ongoing trade standoff between major economies, rising inflation fears and weakening currencies have further boosted gold’s appeal as a store of value.

The domestic market had already seen a substantial increase on Monday, with gold prices rising by Rs7,800 per tola, indicating back-to-back gains of nearly Rs14,000 in just two days. This rally brings the market closer once again to its all-time high of Rs363,700 per tola, recorded on April 22, 2025.

Silver prices also showed significant movement. The price of silver per tola increased by Rs57, reaching Rs3,482, while the 10-gram silver price rose by Rs22 to Rs2,985. Traders noted rising demand for silver both as an investment and for industrial use.