KARACHI: Gold and silver prices climbed further on Saturday in both international and domestic markets, continuing the strong upward momentum witnessed earlier this week.
In the global bullion market, gold surged by $71 per ounce to settle at $5,108. Reflecting the international trend, local gold prices in Pakistan also hit new highs. The price of one tola of gold jumped by Rs7,100 to Rs533,562, while 10 grams increased by Rs6,087 to Rs457,443.
Silver followed a similar trajectory, with one tola gaining Rs374 to reach Rs8,948 and 10 grams rising by Rs321 to Rs7,671.
A day earlier, domestic gold rates had already recorded significant gains. According to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), the price of 24-karat gold per tola had climbed Rs2,500 to Rs526,462, while 10 grams rose Rs2,144 to Rs451,356. Thursday had seen an even sharper surge of Rs7,900 per tola, with gold settling at Rs523,962. Silver had also advanced by Rs170 to Rs8,574 per tola.
Internationally, spot gold rose 0.8% to $5,039.42 per ounce, while US gold futures for April delivery gained 1.3% to $5,060.10 amid mixed economic signals from the United States.
Market sentiment was influenced by weaker-than-expected US GDP growth data and persistent inflationary pressures. Data linked to the Federal Reserve’s preferred inflation gauge added uncertainty to the interest rate outlook, impacting investor sentiment.
Geopolitical tensions also supported safe-haven demand after Donald Trump issued a 10-day ultimatum to Iran, heightening concerns of possible escalation in the Middle East.
Meanwhile, the State Bank of Pakistan (SBP) injected Rs1.57 trillion into the banking system through Open Market Operations (OMO). It also carried out Shariah-compliant Mudarabah-based OMO injections, accepting Rs210.5 billion across both tenors at a rate of 10.54%.
Analysts noted that ongoing global uncertainty and geopolitical risks continue to fuel demand for precious metals, keeping prices elevated in both international and local markets.
