Gold prices in Pakistan rose on Thursday in line with gains in the international market. In the local bullion market, the price of gold per tola reached Rs469,285 after gaining Rs1,523 during the day.
Similarly, the price of 10-gram gold stood at Rs402,335, up Rs1,305, according to rates issued by the All-Pakistan Gems and Jewellers Sarafa Association. A day earlier on Wednesday, gold had closed at Rs467,762 per tola after a sharp fall of Rs8,600.
Silver also moved lower, dropping Rs97 per tola to settle at Rs7,797 in the local market.
On the international front, gold prices edged higher as a softer US dollar and easing crude oil prices supported demand for the safe-haven metal. Spot gold rose 0.8 percent to $4,465.56 per ounce, while US gold futures for August delivery climbed 0.6 percent to $4,493.30.
Investors also weighed developments in the Middle East after reports of a ceasefire agreement between Israel and Lebanon, along with renewed expectations of progress in efforts linked to the Iran conflict.
Analysts say gold remains closely tied to movements in the dollar and oil markets. “Gold’s gains are still very much at the mercy of oil and the dollar. It only moves higher when they pull back,” said Tim Waterer, chief market analyst at KCM Trade, adding that sentiment is sensitive to geopolitical headlines.
In the local market, jewellers said trading activity remained cautious as buyers kept a close watch on international trends. Many investors preferred to wait for clearer direction before making fresh purchases, given recent sharp swings in prices.
Market participants added that currency movements and global political developments continue to play a key role in shaping sentiment. Any further shift in the US dollar or crude oil prices is expected to directly influence bullion rates in the coming days.
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