Karachi: Gold prices increased once again across Pakistan on Tuesday, continuing the upward trend seen in recent days. According to data released by the All Pakistan Gems and Jewellers Association (APGJA), the price of gold recorded a moderate increase in the local market, in line with rising rates in the international bullion market.
The association reported that the price of one tola of gold rose by Rs1,500, reaching Rs526,262 across the country. The increase adds to ongoing volatility in precious metal prices, which have been fluctuating due to global economic uncertainty, currency movements, and changes in investor sentiment.
Similarly, the price of 10 grams of gold also saw an increase. According to APGJA figures, the rate for 10 grams of gold went up by Rs1,286, bringing the new price to Rs451,184 in domestic markets.
Jewellers noted that despite the rise, demand for gold remains steady, particularly among investors who continue to view the precious metal as a safe-haven asset amid inflationary pressures and economic instability. However, retail buyers, especially those purchasing gold for weddings and personal use, remain cautious due to historically high prices.
Market analysts say that local gold prices are heavily influenced by trends in the international bullion market, as well as movements in the Pakistani rupee against the US dollar. Any fluctuation in the exchange rate tends to have a direct impact on domestic gold prices.
On the global front, gold prices also moved higher. In the international market, the price of gold increased by $15 per ounce, reaching $5,035 per ounce, according to market reports. The rise reflects continued investor interest in gold amid concerns over global economic growth, geopolitical tensions, and expectations regarding monetary policy in major economies.
Experts believe that international gold prices have been supported by uncertainty surrounding interest rate policies, particularly in the United States, as well as concerns over global inflation. Lower or uncertain interest rates typically make non-yielding assets such as gold more attractive to investors.
In Pakistan, the persistent rise in gold prices has sparked mixed reactions. While investors and traders see the increase as an opportunity to protect wealth, consumers have expressed concern over affordability. Many buyers have delayed purchases, hoping for a correction in prices.
Jewellers across major cities, including Karachi, Lahore, Islamabad, and Rawalpindi, report that footfall in retail markets has declined compared to previous years. “Gold prices are at extremely high levels, and ordinary customers are finding it difficult to buy jewelry,” a Karachi-based jeweller said. “Most of the activity we see now is investment-related rather than traditional jewelry buying.”
Despite this, gold continues to hold cultural and economic significance in Pakistan. It remains a preferred form of savings, particularly among households seeking long-term security against inflation and currency depreciation.
Financial experts advise consumers to remain cautious and well-informed before making purchases. They suggest monitoring international market trends, currency movements, and policy developments, as these factors will continue to influence gold prices in the near term.
The All Pakistan Gems and Jewellers Association stated that prices may continue to fluctuate depending on global demand, geopolitical developments, and changes in the international financial landscape. The association urged buyers and investors to verify daily rates before conducting transactions, as prices can vary from day to day.
In recent months, gold prices in Pakistan have remained highly volatile, reflecting broader economic challenges and uncertainty. Analysts note that unless there is significant stabilization in global markets or a strengthening of the local currency, gold prices are likely to remain elevated.
