Gold prices in Pakistan climbed on Friday, following a rise in international markets. The price of gold per tola reached Rs526,462, up Rs2,500 from the previous day. Similarly, 10-gram gold was sold at Rs451,356 after a gain of Rs2,144, according to the All-Pakistan Gems and Jewellers Sarafa Association.
On Thursday, gold had also risen, reaching Rs523,962 per tola after an increase of Rs7,900. Silver prices moved higher as well, with a rise of Rs170 per tola to Rs8,574.
Global market factors
Gold in the international market rose on Friday, supported by tensions between the United States and Iran and falling European bond yields. Investors are closely watching US inflation data to understand the likely direction of Federal Reserve policy.
Spot gold increased by 0.7 percent to $5,032.49 an ounce, while US gold futures for April delivery rose 1.1 percent to $5,052.70. Analysts said lower European yields reduce the cost of holding gold, making it more attractive for investors.
US President Donald Trump warned Iran to reach a deal over its nuclear programme within two weeks, adding pressure on the market. Meanwhile, Goldman Sachs expects gold prices to rise gradually this year, as central banks continue buying and private investors respond to US interest rate cuts.
Economists expect the US Federal Reserve to keep interest rates steady at its March policy meeting. Lower rates tend to support non-yielding assets like gold.
In Asia, gold demand remained weak in India due to price volatility, while China and other major markets were closed for the Lunar New Year.
Other precious metals also advanced on Friday. Spot silver rose 2.8 percent to $80.57 an ounce, platinum gained 2.3 percent to $2,117.66, and palladium increased 2.3 percent to $1,723.25.
Gold price movement in Pakistan this month
- Feb 20: Gold price rose by Rs2,500 to reach Rs526,462 per tola.
- Feb 19: Gold price rose by Rs7,900 to reach Rs523,962 per tola.
- Feb 18: Gold price rose by Rs1,300 to reach Rs516,062 per tola.
- Feb 17: Gold price fell by Rs9,000 to reach Rs514,762 per tola.
- Feb 16: Gold price fell by Rs3,200 to reach Rs523,762 per tola.
- Feb 14: Gold price rose by Rs7,000 to reach Rs526,962 per tola.
- Feb 13: Gold price fell by Rs8,600 to reach Rs519,962 per tola.
- Feb 12: Gold price remained stable at Rs528,562 per tola.
- Feb 11: Gold price rose by Rs2,300 to reach Rs528,562 per tola.
- Feb 10: Gold price rose by Rs1,500 to reach Rs526,262 per tola.
- Feb 9: Gold price rose by Rs5,300 to reach Rs524,762 per tola.
- Feb 7: Gold price rose by Rs11,700 to reach Rs519,462 per tola.
- Feb 6: Gold price fell by Rs21,400 to reach Rs507,762 per tola.
- Feb 4: Gold price rose by Rs14,800 to reach Rs529,162 per tola.
- Feb 3: Gold price rose by Rs24,000 to reach Rs514,362 per tola.
Gold prices have seen fluctuations throughout February. After a sharp drop on February 2 to Rs490,362 per tola, prices have mostly increased, peaking at Rs526,962 on February 14. Minor dips occurred on February 16 and 17, but the overall trend has been upward, reflecting gains in the global market.
