Gold prices continued their upward momentum on Tuesday, marking a second straight day of gains in both local and international markets, driven by robust investor demand amid global uncertainties.
According to the All Pakistan Sarafa Gems and Jewellers Association, the price of 24-karat gold in Pakistan surged by Rs6,100 per tola, reaching Rs356,100. Similarly, the price for 10 grams rose by Rs5,232 to Rs305,300.
In international markets, gold prices climbed by $61 to hit $3,377 per ounce. Spot gold was last reported at $3,372.01 an ounce, reflecting a 1.2% increase and touching its highest point since April 22.
Silver also saw a notable increase. In the local market, one tola of silver went up by Rs57 to Rs3,482, while 10 grams increased by Rs22 to Rs2,985. Globally, spot silver rose 1.3% to $32.92 per ounce.
Other precious metals posted modest gains as well. Platinum advanced 1.7% to $975.75 per ounce, while palladium rose 0.8% to $948.
Market analysts attribute the continued rise in gold and silver prices to heightened safe-haven demand, spurred by geopolitical tensions and persistent inflation concerns.
