Gold prices in Pakistan continued their upward trajectory on Friday, with the price of one tola climbing by another Rs5,100 to extend a three-day rally driven by gains in the international bullion market.
According to the All Pakistan Sarafa Gems and Jewellers’ Association, the price of 24-karat gold rose to Rs454,336 per tola after Friday’s increase.
The price of 10 grams of 24-karat gold also increased by Rs4,372, settling at Rs389,519.
The latest increase means gold has become Rs26,400 more expensive per tola over the past three trading sessions, reflecting sustained momentum in global bullion prices.
Jewellers attributed the sharp rise to continued volatility in international markets and growing investor demand for safe-haven assets amid global economic uncertainty and geopolitical tensions.
Analysts say gold prices remain sensitive to a range of international factors, including central bank monetary policies, movements in the US dollar, inflation expectations and ongoing regional conflicts.
Even modest fluctuations in global bullion markets often have an immediate impact on domestic prices.
The continued surge has also dampened consumer demand, with jewellers reporting a noticeable slowdown in gold purchases as soaring prices put jewellery beyond the reach of many buyers.
Traders said that most customers are now making purchases only when necessary, while discretionary buying has declined significantly due to record-high prices.
The persistent rally underscores the growing appeal of gold as a safe investment during periods of heightened uncertainty, even as elevated prices weigh on retail demand in Pakistan.
