Gold and silver prices in Pakistan rose on Saturday, tracking strength in global bullion markets. The price of 24K gold increased by Rs2,400 per tola to Rs424,236, while 10 grams gained Rs2,057 to Rs363,713. Silver rose by Rs41 per tola to Rs6,070. International gold climbed by $24 to $4,018 per ounce, and Pakistan’s pricing formula sets local gold at $20 per ounce above the global rate.

Gold and silver prices in Pakistan fell sharply on Friday, with gold down Rs3,600 per tola to Rs421,836 and down Rs3,086 per 10 grams to Rs361,656. Silver dropped Rs126 per tola to Rs6,029. The decline followed a $36-per-ounce drop in international gold prices to $3,994 per ounce, and Pakistan’s local pricing formula that sets gold at $20 per ounce above the global rate.

Pakistan has stepped up security around the Saindak copper and gold mine in Balochistan after militant violence disrupted transport routes to the site. The mine is operated by China’s state-owned Metallurgical Corporation of China under a lease extended in 2022, and most output is exported to China. While the mine’s managing director dismissed claims it could shut, he said the operator had sought government support to ensure furnace-oil deliveries and warned the energy ministry that operations could become unsustainable within a month if security along supply lines keeps deteriorating, according to the Financial Times. Security forces have since moved to protect logistics and cargo shipments to the mine.

Gold prices in Pakistan fell Rs 4,700 per tola to Rs430,236, while the 10-gram rate dropped Rs 4,029 to Rs 368,858. Silver also declined domestically, with one tola down Rs.138 to Rs.6,421 and 10 grams down Rs.119 to Rs. 5,504. The move followed a $47-per-ounce fall in international gold to $4,078, with local pricing set at the global rate plus a $20-per-ounce premium.

Pakistan’s petroleum minister said the government is developing a transparent weekly fuel-pricing mechanism to ensure domestic petrol and diesel prices are cut quickly when international oil prices fall. A high-level committee is drafting the formula and consulting stakeholders, with officials expecting it to be applied in the next price review. The move is intended to pass the benefit of lower global oil prices directly to consumers, which the minister linked to easing regional risk as Iran and the United States move toward ceasefire talks.

Pakistan LNG Limited has issued an emergency spot tender for one 140,000-cubic-meter LNG cargo for delivery to Port Qasim, Karachi, on June 21-22, as the country moves to cover peak summer power demand after disruptions linked to the war in Iran and Qatar’s force majeure. The bid submission deadline is June 19. Even with a tentative agreement to reopen the Strait of Hormuz, shipping backlogs, surging war-risk insurance and ongoing security concerns mean normal transit could take weeks to resume. The disruption has lifted global spot LNG prices and provided spillover support to crude and gas prices.