Web Desk: Gold prices in Pakistan climbed again on Friday, pushing the cost of one tola of gold to Rs476,162 amid gains in international bullion markets, according to the All Pakistan Sarafa Gems and Jewelers Association.
The association said the price of one tola of gold increased by Rs1,300, reaching Rs476,162 in the local market. Meanwhile, the price of 10 grams of gold rose by Rs1,115 to Rs408,232.
The upward trend mirrored developments in global markets, where gold prices gained $13 per ounce, taking the international rate to $4,538 per ounce.
In contrast, silver prices moved lower in Pakistan. The association reported that the price of one tola of silver fell by Rs21 and was trading at Rs8,013.
Market analysts attribute the sustained strength in gold prices to investor demand for safe-haven assets amid ongoing economic uncertainties, inflationary pressures, and geopolitical concerns. Traditionally, investors turn to gold during periods of financial instability, viewing the precious metal as a reliable store of value.
Gold has served as a symbol of wealth and a medium of exchange for centuries. Consequently, demand often rises when confidence in other investment assets weakens.
Pakistan revised its gold pricing mechanism last year. Under the updated formula, local gold prices are calculated at a premium of $20 per ounce above prevailing international market rates, a move designed to better align domestic pricing with market dynamics.
As global economic conditions remain uncertain, traders and investors continue to monitor movements in precious metals markets for signals about inflation, interest rates, and broader financial trends.
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