Gold extends gains, per tola price hits Rs416,778 in Pakistan

Gold prices in Pakistan rose further on Tuesday, following an upward movement in the international market.

According to data released by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), the price of gold per tola increased by Rs1,500 to reach Rs416,778. Similarly, the price of 10 grams of gold rose by Rs1,286, bringing it to Rs357,319.

A day earlier, the per-tola rate had jumped by Rs5,400 to settle at Rs415,278.

In the global market, gold prices also continued to climb. As per APGJSA, the international rate stood at $3,955 per ounce — with a $20 premium — marking a daily increase of $15. Spot gold was trading around $3,960 per ounce as of 0130 GMT after hitting an intraday high of $3,977.19.

Meanwhile, silver prices fell by Rs20 per tola, closing at Rs4,929.

Analysts say gold has surged around 51% so far this year due to strong central bank purchases, robust inflows into gold-backed exchange-traded funds (ETFs), a weaker US dollar, and heightened investor interest amid global trade and geopolitical tensions.