The gold rate in Pakistan reached an all-time high on Wednesday, surpassing Rs550,000 per tola for the first time in history. This surge comes amid strong global demand and economic uncertainty.
According to the All Pakistan Sarafa Gems and Jewellers Association (APSGJA), 24-karat gold prices increased by Rs21,100 per tola, reaching Rs551,662. Meanwhile, 10 grams of gold rose by Rs18,090 to Rs472,961, and 10 grams of 22-karat gold climbed to Rs433,563.
Globally, gold prices also jumped sharply. Spot gold rose $211 per ounce to $5,293, marking its highest level ever. The rally reflects heightened investor interest in precious metals amid geopolitical tensions and shifting currency trends. US gold futures for February delivery surged 3.4% to $5,255.30 per ounce.
The surge in the gold rate is partly linked to the weakening US dollar. Analysts note that a near four-year low in the dollar, combined with geopolitical uncertainty, has driven investors toward gold as a safe haven. Kelvin Wong, a senior market analyst at OANDA, said, “Gold’s rise is tied to the very strong correlation with the dollar and recent White House remarks on currency value.”
Silver also recorded record highs. The price of 24-karat silver per tola increased by Rs271 to Rs11,911, while 10 grams of 24k silver rose to Rs10,211. The rising prices of gold and silver reflect increased purchases by central banks and ongoing global economic concerns.
Experts suggest that the current trend in gold rate may continue in the near term, as international investors seek security amid financial uncertainty. Pakistan’s local gold market remains highly sensitive to global price movements, making precious metals a key investment option for citizens.
In other news read more about Gold Blasts Past $5,000 as Investors Rush to Safe Haven
With gold and silver prices surging, many traders and investors are closely watching market developments to capitalize on the historic rally.
