The price of 10 grams of gold increased by Rs2,915 to Rs462,930, according to the All-Pakistan Gems and Jewellers Sarafa Association. On Monday, gold had already risen by Rs3,000 per tola to Rs536,562, reflecting strong domestic demand and currency-linked adjustments.

Silver prices also moved higher, gaining Rs192 to Rs9,286 per tola.

Globally, gold retreated over 2% after hitting a three-week high, with spot gold quoted at $1,919.67 per ounce and US April futures at $1,938.30 per ounce. The market pullback was mainly due to profit-taking and a stronger US dollar.

Traders said geopolitical tensions between the US and Iran continue to support gold as a safe-haven asset. Fresh talks between Washington and Tehran later this week are keeping investors alert. Adnan Agar, Director at Interactive Commodities, noted that gold prices fluctuated between $1,893 and $1,949, reflecting market uncertainty.

Must Read: Gold price jumps Rs3,000 to Rs536,562 per tola

Analysts said gold remains near record highs but may need new triggers, such as updates on US trade policy or geopolitical escalation, to push prices higher. In Pakistan, local gold prices closely follow global movements and the rupee-dollar parity.

The Pakistani rupee gained slightly, settling at 279.52 per dollar, up Rs0.03 from Monday’s 279.55, according to the State Bank of Pakistan. Meanwhile, the Japanese yen weakened as investors assessed global market volatility, and the US dollar index rose 0.2% to 97.90.