KARACHI: Gold prices in Pakistan held steady on Tuesday, with 24-karat gold per tola trading at Rs477,162, according to data released by the All Pakistan Sarafa Gems and Jewellers Association (APSGJA). The price of 10 grams of 24-karat gold also remained unchanged at Rs409,089, while 10 grams of 22-karat gold stayed at Rs375,011. In the international market, gold prices were flat at $4,548 per ounce.
Silver prices in the local market also showed no movement. Silver per tola was priced at Rs8,099, and 10 grams of silver held steady at Rs6,943. Globally, silver remained firm at $76.15 per ounce. For daily updates, check the silver rate.
The precious metals market has been experiencing frequent fluctuations due to changing global economic conditions and geopolitical developments, including tensions and diplomatic signals involving the United States and Iran. Analysts maintain a positive long-term outlook for gold, highlighting its role as a safe-haven asset during periods of uncertainty. They note that gold continues to attract investors because of its intrinsic value, limited supply, and relative independence from government policies, making it an effective hedge against inflation, currency depreciation, and market volatility.
According to Reuters, global gold demand remains robust amid persistent inflation concerns and geopolitical risks. Similarly, a Al Jazeera report suggests that central bank purchases and investor interest continue to support gold prices above $4,500 per ounce.
Market participants are closely watching upcoming economic data and geopolitical events for further direction. While short-term volatility is expected, many analysts believe gold will remain a favored asset for portfolio diversification.
Source: ARY News