Gold prices surge by Rs3,200 per tola, reach all-time high

KARACHI: Gold prices in Pakistan’s local market witnessed a significant surge of Rs3,200 per tola on Thursday, driven by an increase in global gold prices. With this jump, gold has reached a new all-time high, reflecting the continued bullish trend in both domestic and international markets.

According to the All Pakistan Sarafa Gems and Jewellers Association, the price of gold per tola climbed to Rs321,000, while the 10-gram gold rate rose by Rs2,743, reaching Rs275,205.In the international market, gold prices surged by $31 per ounce, bringing the price to $3,052 per ounce. This rally is largely attributed to economic uncertainties, rising inflation concerns, and an increasing demand for safe-haven assets among investors worldwide.

The silver market also saw a sharp rise. The price of silver per tola increased by Rs105, reaching Rs3,580, while the 10-gram silver rate climbed by Rs90, settling at Rs3,069.

Market analysts believe the ongoing surge in gold prices is linked to global financial instability, fuelled by rising geopolitical tensions, fluctuating currency values, and the US’s central bank policies favouring gold accumulation. Additionally, investors continue to seek refuge in gold, as concerns over global trade policies and inflationary pressures mount.Experts predict that gold prices could remain volatile in the coming days, with further fluctuations depending on global economic trends and policy decisions by major financial institutions.