Web Desk: Gold prices climbed sharply in Pakistan on Friday, tracking gains in international markets as investors continued to seek the precious metal amid persistent global economic uncertainty.
The All Pakistan Sarafa Jewellers Association said the price of gold increased by Rs3,000 per tola, lifting the domestic rate to Rs430,436.
Meanwhile, the price of 10 grams of gold rose by Rs2,572 to Rs369,029.
The rally in Pakistan mirrored an upward trend in global bullion markets. International gold prices gained $30 per ounce to reach $4,080, providing fresh momentum for domestic prices.
Market analysts said the increase reflected sustained demand for gold as investors turned to safe-haven assets in response to uncertainty in global financial markets.
Economists said gold traditionally attracts stronger investor interest during periods of economic and geopolitical uncertainty, pushing prices higher as demand strengthens.
They added that continued volatility in global markets could keep upward pressure on bullion prices in the coming days.
The direction of Pakistan’s gold market would continue to depend largely on international bullion prices, movements in the US dollar and broader global economic conditions.
They cautioned that unless international gold prices stabilise, domestic rates could extend their gains in the near term.
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