Gold prices moved higher in both international and domestic markets on Wednesday, with bullion reaching fresh highs amid ongoing geopolitical uncertainty and currency fluctuations.
International Market
In the global bullion market, spot gold rose 0.8% to $5,190.99 per ounce, while earlier it was reported at $5,185 per ounce — up $13 on the day.
US gold futures for April delivery increased 0.7% to $5,210.40, according to Reuters data.
Other precious metals also posted strong gains:
- Spot silver climbed 4.2% to $90.96 per ounce, marking a three-week high.
- Platinum surged 5.8% to $2,293.69 per ounce, its highest level since early February.
- Palladium added 2.8% to reach $1,817.22 per ounce, also a three-week high.
Analysts attribute the upward momentum to persistent geopolitical tensions — particularly between the United States and Iran — alongside uncertainty over US tariff policies. Safe-haven demand continues to underpin bullion despite periodic profit-taking.
Gold Hits Three-Week High Amid US Tariff Uncertainty
Pakistan Market
In Pakistan, local gold prices mirrored global trends.
According to rates issued by the All-Pakistan Gems and Jewellers Sarafa Association, the price of 24-karat gold per tola increased by Rs1,300 to Rs541,262.
- The rate for 10 grams rose by Rs1,114 to Rs464,044.
Silver also registered gains in the domestic market:
- Silver per tola increased by Rs268 to Rs9,554.
- The price for 10 grams rose by Rs230 to Rs8,191.
Recent Trend
The latest increase follows continued volatility earlier in the week. On Tuesday, gold prices in Pakistan had already climbed Rs3,400 per tola to Rs539,962 after touching Rs536,562 a day earlier.
Internationally, gold had briefly retreated more than 2% after hitting a three-week high, largely due to profit-taking and a stronger US dollar. However, broader geopolitical risks and sustained investor demand for safe-haven assets have helped prices recover.
Market participants remain focused on developments in US economic policy, currency movements, and the evolving diplomatic standoff between Washington and Tehran, all of which are influencing global bullion markets.
