Gold hits record high, soars to Rs306,200 per tola

KARACHI: Gold prices in Pakistan surged to a fresh record on Friday, tracking gains in international markets amid rising concerns over global trade tensions.

The price of gold per tola climbed Rs2,200 to reach an all-time high of Rs306,200 in the local market, while the rate for 10 grams increased by Rs1,886 to Rs262,517, according to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA).

The international gold price also hit a record high, rising $20 during the day to reach $2,933 per ounce, including a $20 premium, according to the APGJSA.

Silver prices followed suit, with the per tola rate increasing by Rs83 to Rs3,450.

The rally mirrored global trends, where gold prices held steady and remained on course for a seventh consecutive weekly gain. Market sentiment was bolstered by concerns over a potential global trade war after US President Donald Trump proposed imposing reciprocal tariffs on countries taxing US imports.