Gold price climbs higher in Pakistan for second straight session

Gold prices extended their upward run in Pakistan on Wednesday, marking a second straight session of sharp gains as global bullion rates climbed. The price for one tola of gold settled at Rs438,862, up Rs2,300 from the previous day, according to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA).

Over the past two trading days, gold has grown by a total of Rs10,000 per tola, driven largely by rising international demand and a notable jump in global spot prices. The cost of 10 grams of gold also moved higher, closing at Rs376,253 after increasing by Rs1,972.

Tuesday had already set the tone for the rally, when the per-tola rate surged by Rs7,700 to finish at Rs436,562.

Global momentum pushes local prices

International gold prices recorded a $23 rise to stop at $4,165 per ounce, carrying a $20 premium in regional markets. Analysts say the renewed appetite for safe investments globally, supported by a softer US dollar, has likely added to the pressure.

Local dealers echoed the trend, noting that buyers have been returning to gold despite high prices, as the market views bullion as a reliable long-term option during uncertain economic spells.

Silver shines alongside gold

Silver also reflected the broader mood. Its per-tola rate jumped by Rs60 to reach Rs5,482 on Wednesday, making it one of the highest closing points this month.

Jewellers say that while gold remains the star, rising silver prices hint at wider momentum in the precious metals sector.

What it means for buyers

Economists caution that more global volatility or further weakening of the dollar could mean gold prices may climb again. Many potential buyers in the local market, especially those planning weddings or long-term investments, are reportedly recalculating budgets as prices keep shifting.

Market watchers say short-term dips cannot be ruled out, but the overall direction appears upward for now.