KARACHI: Gold prices in Pakistan rose on Wednesday, May 6, 2026, tracking gains in the international bullion market amid fluctuations in global oil prices.
Gold gained nearly 2% globally, supported by a weaker US dollar. Softer oil prices also eased concerns over inflation and the possibility of higher-for-longer interest rates, while market sentiment improved on hopes of a potential US-Iran peace deal.
According to the All Pakistan Sarafa Gems and Jewellers Association, the price of 24-karat gold per tola increased by Rs11,100 to Rs488,962, compared to Rs477,862 in the previous session.
Similarly, the price of 10 grams of 24-karat gold rose by Rs9,517 to Rs419,206, up from Rs409,689.
In the international market, gold prices climbed by $111 to $4,666 per ounce, compared to $4,555 a day earlier.
Silver prices also recorded an increase, with the per tola rate rising by Rs223 to Rs8,072 from Rs7,849.
Market analysts attributed the movement in bullion prices to shifting global geopolitical developments, particularly tensions and diplomatic activity involving the United States and Iran, along with broader economic uncertainty.
Despite short-term volatility, analysts maintain a positive long-term outlook for gold, citing its continued appeal as a safe-haven asset during periods of economic and geopolitical instability.
SILVER RATE – DAILY UPDATES
They added that gold remains attractive to investors due to its intrinsic value, limited supply, and relative independence from government policy, making it an effective hedge against inflation, currency depreciation, and market volatility.
Historically, periods of global uncertainty have driven investors toward bullion while reducing appetite for riskier assets such as equities and speculative currencies.
Gold continues to serve both as a traditional ornamental commodity and a key financial safe-haven asset, with demand typically strengthening during times of global instability.