Gold prices have soared to unprecedented heights, breaking records in both international and local markets. Reports indicate that the price of gold per ounce in the global bullion market has increased by $9, reaching an all-time high of $2,953.
This surge in gold prices is influenced by multiple factors, including the economic downturn triggered by former U.S. President Donald Trump’s strict import policies. These policies have strained global economies, leading investors worldwide to turn to gold as a safe-haven asset. The rising demand for gold has, in turn, fueled continuous price hikes on both international and local fronts.
Read more: Gold Prices in Pakistan have Touched the Highest Ever in History
Reflecting the global trend, gold prices in local markets have also experienced a sharp rise. On Thursday, the price of 24-carat gold per tola (11.66 grams) in Pakistan’s jewelry markets increased by 1,000 rupees, reaching a record-high of 309,000 rupees. Likewise, the price of 10 grams of gold climbed by 857 rupees, hitting 264,917 rupees.
Silver prices have followed a similar upward trajectory, with the price of one tola of silver rising by 28 rupees to reach 3,468 rupees. Meanwhile, 10 grams of silver saw an increase of 24 rupees, bringing the price to 2,973 rupees.
Analysts believe the continuous surge in gold prices is tied to concerns over the potential depreciation of major global currencies. In response, countries opposing U.S. economic policies have been increasing their gold reserves as a safeguard against financial instability. This shift in investment strategies is driving record-breaking price levels in both global and local gold markets.
