Gold and silver prices in Pakistan surged to new record levels on Monday, driven by global market trends. Investors sought safe-haven assets amid US-China trade tensions and expectations of interest rate cuts by the US Federal Reserve.
In the local market, gold per tola rose by Rs. 5,500, reaching a historic Rs. 428,200, according to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA). Similarly, the price of 10-gram gold increased by Rs. 4,715, closing at Rs. 367,112.
This followed Saturday’s gains, when gold per tola had already risen by Rs. 2,100 to Rs. 422,700. Silver prices in Pakistan also hit new highs, with per tola rates increasing by Rs. 147, reaching Rs. 5,247.
Internationally, gold prices reflected similar trends. Spot gold rose 0.7% to $4,044.29 per ounce, after briefly reaching a record $4,059.30. Including a $20 premium, the international rate stood at $4,071 per ounce, up $55 for the day, according to APGJSA.
Experts say the surge in gold and silver prices is due to geopolitical uncertainty and volatile markets, prompting investors to seek stable and secure investments.
The record-breaking local and international rates indicate strong demand for precious metals. Analysts suggest that global economic instability and trade disputes continue to influence market behavior, keeping gold and silver prices elevated.
In other related news also read Gold Hits Record High in Pakistan – Latest Price Update
Consumers and investors are advised to monitor the market closely, as further fluctuations in global trends could impact local pricing.
The current surge reinforces the importance of gold and silver as trusted stores of value during times of economic uncertainty.
