Gold prices in Pakistan rose on Tuesday, tracking gains in the international market. According to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), the price of gold per tola increased by Rs600 to reach Rs339,400 in the local market. Similarly, the rate for 10 grams climbed by Rs514, settling at Rs290,980.
On the global front, the price of gold rose by $6, with APGJSA quoting the international rate for Pakistan at $3,224 per ounce, including a $20 premium.
This uptick follows a decline on Monday when the price of gold per tola fell by Rs1,800 to Rs338,800.
Commenting on the market trend, Adnan Agar, Director at Interactive Commodities, said the market was relatively subdued on Tuesday following a period of heightened activity.
"Today, the market is calm after nearly two weeks of significant movement," Agar noted. "Gold touched a high of $3,232 and a low of $3,209 during the session, currently stabilising at around $3,222. Yesterday's low was $3,190, but the market has seen some recovery since then."
He added that the market may remain quiet due to the upcoming long weekend, with international trading expected to pause on Good Friday.
Globally, gold prices gained on Tuesday, helped by safe-haven demand as US President Donald Trump's tariff plans kept investors wary of trade policy, while an overall weaker dollar also lent support.
Spot gold was up 0.4% at $3,223.41 an ounce. Bullion hit a record high of $3,245.42 on Monday. US gold futures rose 0.4% to $3,238.70.
"Traders are waiting for the next major fundamental development to drive the gold market, but the charts remain bullish. There's still safe-haven demand," said Jim Wyckoff, senior analyst at Kitco Metals.
Federal Register filings on Monday showed that the US administration is advancing investigations into pharmaceutical and semiconductor imports in a bid to impose tariffs.
Trump on Sunday said he would announce the tariff rate on imported semiconductors over the next week.
Meanwhile, the Pakistani rupee recorded a marginal gain against the US dollar on Tuesday, appreciating by 0.01% in the inter-bank market.
The local currency closed at 280.57, marking a slight increase of three paisas from the previous day's closing rate of 280.60.
On the global stage, the US dollar remained steady but continued to hover near a three-year low against the euro and a six-month low versus the yen, as markets remained cautious amid ongoing uncertainty over shifting US tariff policies.
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