Local bullion market rebounds as international gold prices climb $46 per ounce amid renewed safe-haven demand
Gold prices in Pakistan registered a strong recovery on Tuesday, June 2, 2026 as higher international bullion rates pushed local prices upward, reversing part of the previous session’s decline.
According to market data released by the bullion trade, the price of 24-karat gold per tola increased by Rs4,600 to Rs476,362, compared with Rs471,762 recorded a day earlier.
The price of 24-karat gold per 10 grams also rose significantly, gaining Rs3,944 to reach Rs408,403, up from the previous closing level of Rs404,459.
The latest increase comes after a period of heightened volatility in the precious metals market. Gold prices have experienced sharp swings in recent months after reaching a record high of Rs572,860 per tola on January 29, 2026.
Since then, the precious metal has undergone several corrections and rebounds amid changing global economic conditions, shifting investor sentiment and fluctuations in international bullion markets.
Bullion dealers and market analysts attributed Tuesday’s rise primarily to stronger international gold prices. They noted that evolving geopolitical developments and persistent inflation concerns continued to support demand for gold as a safe-haven asset.
Analysts said that while improving prospects for a ceasefire and easing tensions involving Iran have influenced market sentiment, investors remain cautious amid broader economic uncertainty and inflationary pressures.
Market participants also pointed to central bank policy expectations and global interest rate trends as key drivers influencing gold prices worldwide.
In the international market, gold prices increased by $46 per ounce to $4,540, compared with $4,494 per ounce in the previous trading session.
The rise in international bullion prices was reflected in Pakistan’s domestic market, where gold rates closely track global price movements and fluctuations in the rupee-dollar exchange rate.
Traders expect gold prices to remain volatile in the near term as investors continue to assess geopolitical developments, inflation data and monetary policy signals from major economies.
Despite recent fluctuations, market observers said gold continues to attract interest from investors seeking protection against economic uncertainty and inflation risks.
