Gold prices in Pakistan soared to a new record on Wednesday, following a rise in international gold rates. The price of gold per tola reached Rs440,900, up Rs5,800 in a single day, marking an all-time high in the local market.
According to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), 10-gram gold was sold at Rs378,000, after gaining Rs4,972. On Tuesday, gold per tola had hit Rs435,100, increasing by Rs6,900, showing consistent upward momentum over the past days.
The surge in gold prices aligns with international trends. Globally, gold rose close to $4,200 per ounce on Wednesday, supported by expectations of further U.S. interest rate cuts and renewed concerns over US-China trade tensions. Spot gold increased 0.8% to $4,173.56 per ounce, while U.S. December gold futures rose 0.7% to $4,192.90 per ounce.
The APGJSA noted that international gold rates have contributed directly to the rise in local prices. Investors continue to treat gold as a safe-haven asset amid global economic uncertainty and market volatility.
Silver prices also moved upward in Pakistan. Silver per tola increased Rs90, reaching Rs5,337, reflecting steady demand for precious metals in the local market.
Analysts say that rising global tensions, economic uncertainty, and anticipated interest rate changes in the U.S. are key factors driving demand for gold. As a result, gold prices are expected to remain volatile while maintaining an overall upward trend.
In other related news also read Gold Hits Record $4,100 Amid Rising Global Trade Tensions
Market watchers recommend investors monitor global developments closely, as both local and international factors continue to influence the precious metals market. The record highs in Pakistan highlight the growing interest in gold as a financial hedge.
