Gold prices in Pakistan continued their upward trajectory on Thursday, with the price per tola increasing by Rs7,900, reaching Rs523,962. Similarly, the cost of 10 grammes of gold rose by Rs6,773, bringing it to Rs449,212.
Domestic Gold Market Trends
The surge comes amid strong demand for gold as a safe-haven asset, a trend often observed during periods of economic uncertainty and geopolitical tensions. Market analysts note that both local investor sentiment and international developments play a key role in driving these fluctuations.
International Gold Market Movements
Globally, gold prices extended gains following a more than 2% rise in the previous session. Lingering tensions between the United States and Iran have prompted investors to seek safe assets such as gold, while market participants continue to assess the Federal Reserve’s monetary policy outlook.
- Spot gold climbed 0.7% to $5,012.83 per ounce by 06:34 GMT.
- US gold futures for April delivery were up 0.4% at $5,031.20 per ounce.
Jamie Dutta, a market analyst at Nemo Money, highlighted that geopolitical risks remain central to investor behavior:
“If the US were to take military action against Iran, it could last several weeks, prompting a flight to safe-haven assets.”
Gold and Silver Prices Rebound in Pakistan After One-Day Pause
While talks in Geneva this week between Iran and international negotiators showed some progress, key issues remain unresolved, according to the White House. US national security advisers also confirmed that all military forces deployed to the region should be in place by mid-March.
Silver Market Update
Silver prices have also been affected, with spot silver rising 2.7% to $79.24 per ounce after gaining more than 5% in the previous session. Ole Hansen, head of commodity strategy at Saxo Bank, noted:
“Silver is supported by tight supply and low COMEX stock levels ahead of the March contract delivery. However, it will only regain stability once it trades above $86 per ounce.”
Outlook
Analysts suggest that the current surge in gold and silver prices reflects both short-term geopolitical uncertainties and persistent supply-demand dynamics in global markets. Investors in Pakistan and abroad are closely monitoring these developments, viewing precious metals as a hedge against instability and currency fluctuations.
With gold now surpassing Rs500,000 per tola, the precious metal continues to remain a key investment choice for risk-averse buyers and a benchmark for financial security in volatile times.
