KARACHI: Gold prices surged for a second consecutive day in Pakistan on Thursday, tracking sharp gains in international markets amid growing global economic uncertainty.
According to the All Pakistan Sarafa Gems and Jewellers Association, the gold price in Pakistan rose by Rs11,300 per tola, taking it to a record Rs449,236 per tola.
The price of 10 grams of gold increased by Rs9,688 to Rs385,147.
In the international market, spot gold climbed $113 per ounce to $4,268, its highest level in seven weeks.
Market analysts attributed the rally to persistent uncertainty in global financial markets, which has boosted demand for gold as a safe-haven asset.
They said gold prices could continue rising if economic uncertainty persists, as investors typically turn to the precious metal during periods of market volatility.
Analysts added that the US dollar, global economic conditions and trends in international bullion markets would remain key factors influencing gold prices in the coming days.
Also Read: Significant Surge in Gold Prices Across Markets
They advised investors to closely monitor both local and international market developments before buying or selling gold, warning that even small shifts in the global economic outlook could significantly affect prices.
