- International Lingots markets increase after American tariff concerns.
- SPOT GOLD UP 0.9% to $ 2,919.44 per second day.
- Silver rallies according to tola prices increase from RS45 to RS3,315.
Gold prices in Pakistan jumped for the second day, surfing on the wave of a world rebound while yellow metal was gaining ground on the demand for safe, according to the latest data published by the All-Pakistan Gems and Jewelers Sarafa Association (APGJSA) on Tuesday.
The rate by tola (11.7 grams) increased by RS4 800 to reach RS306 300, while the gold of 10 grams climbed RS4,115 to settle at RS262 602. Meanwhile, 22 carat gold hit Rs240 727 by 10 grams after winning RS3 772.
The money also joined the rally, the prices by tola increasing from RS45 to RO3.315, while the rates of 10 grams increased from RS39 to RS2 842, according to the association.
On the international front, gold prices extended the gains on Tuesday, driven by the purchase of security. Trade conflicts broke out after US President Donald Trump has imposed new prices on the three main business partners in the world of the world economy.
Gold at point increased by 0.9% to $ 2,919.44 per ounce of 1154 GMT, for a second consecutive session. Bullion has won 10% so far this year and has reached a record summit of $ 2,956.15 on February 24. US gold contracts increased by around 1% to $ 2,930.
The new prices of 25% of Trump on imports from Mexico and Canada entered into force at 0501 GMT. He also dubbed tasks on Chinese products at 20%. China immediately retaliated with additional tariffs of 10% to 15% on certain American imports from March 10 and a series of new export restrictions for designated American entities.
Central banks increasing the purchase of safety metal in the fourth quarter, the demand for gold, in particular free trade (OTC) increased by 1% to a record summit of 4,974.5 metric tonnes in 2024 as the investment increased.
According to the World Gold Council (WGC), Central Banks, a large source of gold demand, bought more than 1,000 tonnes of metal for the third consecutive year in 2024.
In the last quarter of 2024, when Trump won the US elections, purchases by central banks accelerated by 54% over a year to 333 tonnes, the WGC calculated, on the basis of declared purchases and an estimate of non -declared purchasing.
The total demand for gold, excluding the OPAC OTC trading, increased from 1% to 4,553.7 tonnes last year, the highest since 2022, said WGC. He estimates that the request for a violence fell 7% due to a collapse in the last quarter of the year, because the profit taking compensates for the persistent demand from investors with high shuttle.
The consumption of gold jewelry, the largest category of physical demand, dropped by 11% in 2024, while the production of mines was stable and recycling increased by 15%.
The WGC expects the demand for jewelry to remain under pressure and that recycling increases more this year due to high prices.