Gold prices in Pakistan continued their upward trajectory on Tuesday, with the price of 24-karat gold per tola soaring by Rs5,900 to reach Rs435,762, according to the All Pakistan Sarafa Gems and Jewellers Association (APSGJA).

The surge reflects both domestic currency fluctuations and strong international market momentum, as global investors continue to flock toward safe-haven assets amid ongoing geopolitical tensions and inflationary pressures.

The 10-gram price of 24-karat gold also rose sharply by Rs5,065, settling at Rs373,595, while 10 grams of 22-karat gold increased by Rs4,901 to reach Rs342,474. Analysts attribute the sharp rise to the depreciation of the Pakistani rupee against the US dollar and a renewed spike in global gold demand.

In the international bullion market, gold climbed by $59, with the global price reaching $4,134 per ounce, reflecting investors’ growing preference for precious metals as a hedge against market volatility and uncertainty.

Silver prices followed the same trend, witnessing a notable increase in both domestic and international markets. The per-tola rate of 24-karat silver rose by Rs144 to Rs5,353, while 10-gram silver climbed by Rs124, closing at Rs4,589. Globally, silver prices rose by $1.44 to settle at $50.91 per ounce, according to the APSGJA.

Economic experts note that these continuous price hikes in precious metals signal a significant shift in investor sentiment, as concerns about inflation, currency devaluation, and uncertain global economic outlooks drive traders toward commodities like gold and silver.

Local jewellers also reported heightened customer interest, particularly from those seeking to invest in physical gold as a safeguard against currency depreciation and market instability.

Market analysts believe that if international gold continues its bullish run, domestic prices in Pakistan could witness further escalation in the coming days, making it one of the most volatile periods for precious metals in recent years.