Gold prices in Pakistan remained largely unchanged on Friday, with the per tola rate holding at Rs540,562. The 10-gram gold price mirrored this stability, trading at Rs463,444, according to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA).
The market saw little movement following a minor decline of Rs700 on Thursday, when the gold price per tola had briefly dipped to the same level. Meanwhile, silver saw a modest increase of Rs270, reaching Rs9,474 per tola.
Global factors support gold
Internationally, gold has remained a safe-haven asset amid growing uncertainty over US tariff policies and escalating tensions between the United States and Iran. Spot gold edged down slightly by 0.1 percent to $5,181.18 per ounce, while US gold futures for April delivery rose marginally to $5,198.10.
The metal has gained 6.5 percent so far in February, extending a remarkable seven-month streak of rising prices. Analysts attribute this trend to a combination of geopolitical instability and falling yields on US government bonds. The benchmark 10-year yield fell to a three-month low, reducing the opportunity cost of holding gold, which pays no interest.
ANZ analyst Soni Kumari noted that the market is being driven by two main factors. “First is the tariff uncertainty which is there in the market right now, and on the other hand, the Iran and the US situation,” she said.
Local market trends in February
In Pakistan, gold prices have fluctuated through February, reflecting international movements while occasionally responding to domestic demand. After a sharp drop of Rs21,400 per tola on February 6, the metal recovered steadily. By mid-February, gold had regained much of its value, with prices consistently rising most days.
Some of the notable shifts included a gain of Rs24,000 per tola on February 3, followed by smaller daily increases of between Rs1,300 and Rs7,100 through the second half of the month. A minor setback occurred on February 16 and 17, with two consecutive days of decline, but prices bounced back quickly, highlighting the market’s resilience.
The trend for February indicates a clear overall upward trajectory. From February 2, when gold traded at Rs490,362 per tola, the price rose to Rs540,562 by the end of the month, representing a gain of over Rs50,000 in less than four weeks.
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