Gold Prices Extend Gains in Pakistan for Second Day

Gold extended its winning streak in Pakistan on Thursday, rising for a second straight day as international prices continued climbing. Per-tola rates reached Rs425,436 after adding Rs400 during the session, according to the All-Pakistan Gems and Jewellers Sarafa Association. Ten-gram gold similarly rose to Rs364,742, up Rs434 on the day.

Thursday’s gain builds on Wednesday’s sharper move, when gold added Rs900 per tola to reach Rs425,036 — meaning the metal has now climbed roughly Rs1,300 per tola across two consecutive sessions. That sustained upward momentum contrasts with the volatility seen earlier in the week, when Tuesday’s Rs5,600 decline suggested prices might be settling into a lower range before this rebound reasserted the broader upward trend.

Internationally, gold rose $4 an ounce to $4,030, with the customary $20 premium still attached. The smaller international gain relative to Wednesday’s $9 move suggests the pace of global appreciation may be moderating slightly, even as local prices continue tracking the broader trend upward — a pattern that likely also reflects rupee-dollar exchange rate movements layered onto the international benchmark.

Gold’s position above the $4,000 mark continues to reflect the metal’s unusual run through 2026, driven largely by sustained safe-haven demand tied to geopolitical uncertainty, including the ongoing Iran-US tensions that have kept markets on edge in recent days. Central bank gold purchases, a trend that has persisted globally for several years now, continue adding a structural floor of demand beneath the day-to-day price swings.

Silver moved in the opposite direction, falling Rs134 to Rs6,155 per tola — a decline that breaks from gold’s upward path and underscores how the two metals are responding to different demand drivers right now. Silver’s heavier exposure to industrial use, compared to gold’s safe-haven role, often produces this kind of divergence when investor sentiment and industrial outlook pull in different directions.

For Pakistani buyers, the back-to-back gains mean local gold has now moved firmly higher this week despite Tuesday’s dip, reinforcing that the international price environment — not local market conditions — remains the dominant force behind day-to-day movements in Pakistan’s bullion prices.