Karachi: Gold prices recorded a modest increase in Pakistan on Saturday, in line with an upward trend in the international bullion market, according to the All Pakistan Gems and Jewellers Association (APGJA).
The association reported that the price of 24-karat gold per tola increased by Rs1,187, taking the new rate to Rs431,323 per tola across the country.
Similarly, the price of 10 grams of gold rose by Rs989, reaching Rs368,074.
Jewellers attributed the increase in local gold prices to movements in the international market, where bullion prices also registered gains during the latest trading session.
According to the association, the price of gold in the global market climbed by $11.87 per ounce, bringing the international rate to $4,088 per ounce.
Gold prices in Pakistan are generally influenced by trends in international bullion markets, as well as fluctuations in the exchange rate of the Pakistani rupee against the U.S. dollar. Changes in these factors are reflected in domestic prices announced daily by the All Pakistan Gems and Jewellers Association.
Market analysts note that gold continues to be viewed as a preferred safe-haven asset during periods of economic uncertainty and global financial volatility. Consequently, international developments often have a direct impact on local bullion prices.
Traders expect gold prices to remain sensitive to upcoming global economic data, central bank policy decisions, and movements in international financial markets, all of which could influence investor demand for the precious metal in the coming days.
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