Gold prices in Pakistan reached an unprecedented peak on Thursday, driven by a sharp rise in international gold rates. According to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), the price of gold per tola surged to Rs325,500, reflecting a significant single-day increase of Rs500. This new all-time high has captured the attention of investors and consumers alike, signaling a robust upward trend in the precious metal market.
In the 10-gram segment, gold was traded at Rs279,063, up by Rs428 from the previous day’s rates, as reported by the APGJSA. The bullion market, which had remained shuttered during the recent Eid holidays, resumed operations with a notable spike in activity as traders and buyers responded to the escalating prices. The reopening of the market coincided with heightened demand, further fueled by global economic cues.
On the international front, gold prices also climbed, reaching $3,089 per ounce, an increase of $5 within the day. Analysts attribute this global surge to factors such as inflationary pressures, geopolitical uncertainties, and a weakening of major currencies, which traditionally bolster gold’s appeal as a safe-haven asset. Pakistan’s domestic market, closely aligned with international trends, mirrored this upward trajectory, pushing local rates to record levels.
In contrast, silver prices in Pakistan remained unchanged, holding steady at Rs3,580 per tola. This stability in silver stands out against the volatility observed in the gold market, offering a point of calm amid the precious metals storm. As gold continues its meteoric rise, market watchers are keenly observing whether this trend will persist or if a correction looms on the horizon, impacting both local and global economies. For now, Pakistan’s gold enthusiasts and investors brace for what lies ahead in this glittering rally.
