Gold prices in Pakistan moved upward on Saturday as gains in the international market fed through to local rates, keeping the precious metal on a firm footing despite ongoing volatility in global trade.
According to data shared by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), the price of gold per tola rose to Rs444,336 after an increase of Rs4,370 during the day.
Similarly, the price of 10-gram gold climbed to Rs379,880, reflecting a rise of Rs3,933 in a single session.
This latest jump follows Friday’s sharp increase, when the per tola rate had already surged by Rs7,250 to settle at Rs439,966, highlighting continued upward pressure in the local bullion market.
Silver also tracked the upward trend, with its price increasing by Rs200 per tola to reach Rs7,279.
Global market signals driving momentum
The rise in local prices is closely tied to movements in the international market, where gold gained $43 to reach $4,219 per ounce, including a $20 premium.
However, global gold markets remain uneven. Prices have been swinging in response to changing expectations around US monetary policy and a stronger dollar, both of which have reduced some of the metal’s appeal in recent weeks.
International spot gold has seen significant turbulence, recently falling to a six-month low before recovering slightly. Analysts say the market is adjusting to shifting signals on interest rates, particularly in the United States, where strong jobs data has fuelled speculation about possible policy tightening.
Pressure and support factors in focus
While gold has traditionally been seen as a safe investment during periods of uncertainty, recent global developments have created mixed pressures. Expectations of higher US interest rates and a firm dollar have weighed on demand, making bullion less attractive for some investors.
At the same time, broader concerns such as geopolitical tensions, large fiscal deficits, and steady central bank buying continue to provide long-term support for gold prices.
Market watchers note that recent movements also reflect a correction after a strong rally earlier in the year, when gold touched record highs before pulling back.
Analysts suggest that the market is now in a phase of adjustment, where short-term pressure from interest rate expectations is balancing against longer-term demand drivers linked to global uncertainty.
For now, gold appears caught between competing forces. Short-term trends are being shaped by interest rate expectations and currency strength, while long-term demand remains underpinned by global risk factors and institutional buying.
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