Gold prices recorded another sharp rise in both domestic and international markets on Tuesday, marking the second consecutive day of gains driven by strong investor interest.
According to the All Pakistan Sarafa Gems and Jewellers Association, the price of 24-karat gold surged by Rs6,100 per tola, pushing the local rate to Rs356,100. Similarly, the price of 10 grams of gold rose by Rs5,232, reaching Rs305,300.
In global markets, gold continued its upward momentum, jumping $61 to hit $3,377 per ounce. “Spot gold was last recorded at $3,372.01 an ounce, up 1.2%, hitting its highest level since April 22 earlier in the session.”
Silver prices also moved higher. In Pakistan, the price of one tola of silver increased by Rs57 to Rs3,482, while 10 grams gained Rs22 to reach Rs2,985. Internationally, “spot silver rose 1.3% to $32.92 per ounce.”
Other precious metals posted moderate gains. Platinum rose 1.7% to $975.75 per ounce, while palladium climbed 0.8% to $948.
Analysts attribute the surge in gold and silver prices to safe-haven buying, driven by ongoing geopolitical tensions and inflation concerns, which have prompted investors to seek stability in precious metals.
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