Gold prices rose in both domestic and international markets on Tuesday, with a notable increase in local rates.
In Pakistan, the price of gold per tola went up by Rs2,800, reaching Rs478,762, while 10 grams of gold increased by Rs2,401 to Rs410,461. In the international market, gold rose by $28 per ounce to $4,560.
Silver also saw an upward trend. Its price per tola increased by Rs260 to Rs7,784, and 10 grams rose by Rs223 to Rs6,673. Globally, silver was trading at $73 per ounce.
Spot gold climbed 0.9 percent to $4,550.68 per ounce by 0727 GMT, while US gold futures for April delivery gained 0.5 percent to $4,580.70. Among other metals, spot silver rose 2.7 percent to $71.89 per ounce, spot platinum gained 1 percent to $1,917.49, and palladium increased 1.5 percent to $1,427. All three metals had fallen around 20 percent earlier in March.
Earlier on Monday, gold prices in Pakistan continued their upward trend following international gains, where bullion rose for a second day amid renewed safe-haven demand linked to ongoing geopolitical tensions in the Middle East.
Read Also: Gold and silver prices rise again in Pakistan
The domestic price of gold per tola surged by Rs3,900 to Rs475,962, while 10 grams reached Rs408,060, according to the All-Pakistan Gems and Jewellers Sarafa Association. The increase followed Saturday’s sharp rise when gold per tola jumped by Rs4,800 to Rs472,062, showing sustained bullish momentum.
Analysts attribute the rise in gold prices to heightened uncertainty caused by US-Iran tensions. Conflicting signals regarding possible peace talks have added volatility, prompting investors to turn to safe-haven assets like gold.