Gold prices in Pakistan have reached a fresh record high, hitting Rs289,600 per tola on Friday, marking a significant increase of Rs2,900. This surge in prices mirrors the upward trend seen in international gold markets. In addition, the price of 10 grams of gold rose by Rs2,486, reaching Rs248,285, according to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA). This new peak surpasses the previous record set in October last year when gold prices in Pakistan touched Rs287,900 per tola.
The increase in local gold prices on Friday follows a decline in the previous session, when gold prices fell by Rs750 to settle at Rs286,700. Despite this dip, the market quickly regained momentum as global gold rates surged. The rise in gold prices has been driven by a combination of factors, including strong demand for the precious metal as a safe-haven asset in times of economic uncertainty, particularly following recent developments in the international market.
The international price of gold also saw a notable increase on Friday. According to APGJSA, gold prices rose to $2,772 per ounce, reflecting a $29 increase in just one day. This surge was accompanied by a premium of $20, pushing the value of gold closer to its record highs. Global gold prices have seen a steady climb, with spot gold rising by 0.8% to $2,774.49 per ounce as of 0255 GMT. This marks a significant jump for gold, which has gained over 2% this week alone. Earlier in the day, gold prices reached $2,777.10, the highest level since October 31, 2024, when the price peaked at $2,790.15 per ounce.
The increase in both international and local gold prices is largely attributed to heightened economic uncertainties. In particular, concerns surrounding U.S. President Donald Trump’s trade policies have weakened the U.S. dollar, making gold an attractive alternative investment. As investors seek safe-haven assets amid market volatility, gold has seen increased demand, driving up its value globally.
In Pakistan, the rise in gold prices has sparked renewed interest in the precious metal as an investment option. Despite fluctuations in local prices, gold remains a popular choice for investors looking for a hedge against inflation and currency depreciation. In a country where gold is often viewed as a store of value, these record-high prices are a reminder of the precious metal’s enduring appeal.
Alongside gold, silver prices also saw a rise, with silver gaining Rs31 to reach Rs3,432 per tola. While gold typically attracts more attention in times of economic uncertainty, silver has also benefited from the broader trend of increased demand for precious metals.
The current surge in gold prices comes at a time when Pakistan’s economy continues to face significant challenges, including inflation and currency devaluation. As a result, gold remains a popular investment vehicle for many in the country who are looking for ways to preserve wealth in the face of these economic pressures.
While the future of gold prices remains uncertain, especially with fluctuating global markets, it is clear that the precious metal will continue to play a key role in Pakistan’s investment landscape. As the international demand for safe-haven assets like gold grows, it is likely that prices will remain volatile, with periodic surges in response to global economic developments. For investors in Pakistan, these record-high prices offer both opportunities and risks as they navigate the ever-changing market dynamics.