Gold and silver prices in Pakistan have surged to record levels, sending shockwaves through local bullion markets as a powerful global rally pushed precious metals sharply higher. The sudden jump has intensified volatility and raised concerns among buyers, jewelers, and investors alike, who are struggling to keep pace with rapidly changing prices.
Over the weekend, the price of gold remained steady at an all-time high of Rs514,662 per tola, reflecting a massive daily increase of Rs9,100. At the same time, the price of 10 grams of gold settled at Rs441,239 after jumping by Rs7,802. Traders say the sustained high level, even after a brief dip earlier in the week, signals strong momentum driven by international trends rather than short-term speculation.
The dramatic surge came just a day after gold prices had slipped slightly. On Thursday, gold was priced at Rs505,562 per tola following a modest decline of Rs800, highlighting the extreme volatility currently gripping the market. Within 24 hours, prices rebounded sharply, underlining how sensitive local rates have become to global movements.
International markets played a central role in fueling the local spike. Gold prices jumped by $91 in global trading to reach an astonishing $4,923 per ounce, including a $20 premium. Analysts say rising geopolitical uncertainty, expectations of looser monetary policy, and increased demand for safe-haven assets have all contributed to the strong upward push.
Silver also joined the rally, setting a new all-time high in Pakistan. The price of silver rose by Rs372 per tola to reach Rs10,275, marking yet another milestone for precious metals. Market participants note that silver’s sharp rise reflects broader investor interest in commodities as a hedge against inflation and currency instability.
The ongoing surge has had a visible impact on the jewelry trade, with many buyers delaying purchases in hopes of a correction. Meanwhile, investors who already hold gold and silver have seen the value of their assets swell significantly in just a few days. Despite expectations of short-term fluctuations, traders believe prices may remain elevated as long as global uncertainty persists.
Also read: Gold Prices In Pakistan Today
