Gold prices surge by Rs2,550 per tola to new all-time high

KARACHI: Gold prices soared by Rs2,550 per tola on Tuesday, setting a new all-time high in the local market, driven by a significant rise in international gold rates, which also reached an all-time high. The latest surge reflects ongoing global economic uncertainties and growing investor interest in gold as a safe-haven asset.

According to the All Pakistan Sarafa Gems and Jewellers Association, the price of gold per tola climbed to Rs317,350, while the price of 10-gram gold increased by Rs2,186, reaching Rs272,076.

In the international market, gold prices surged by $25, pushing the price to $3,022 per ounce. Analysts attributed this increase to escalating geopolitical tensions and shifting global economic policies, which have fuelled higher demand for gold.

Meanwhile, silver prices also registered an upward trend. The rate of silver per tola rose by Rs25 to Rs3,555, while 10-gram silver increased by Rs21 to Rs3,047. Experts believe that the current global trade war, influenced by the latest Trump administration policies, has played a key role in the rising gold prices.

Reports of the United States expanding its gold reserves have further driven up demand, impacting market dynamics worldwide. With continued economic instability and fluctuating currency values, market analysts predict that gold prices may remain volatile in the coming weeks. Investors are closely monitoring international developments, as any further economic or geopolitical shifts could push prices even higher.