The gold price in Pakistan surged to historic levels on Thursday, with 24-karat gold per tola nearing Rs600,000. The All Pakistan Sarafa Gems and Jewellers Association (APSGJA) reported a massive increase of Rs21,200 per tola, pushing the rate to Rs572,862.
The price of 10 grams of 24-karat gold rose by Rs18,175 to Rs491,136, while 10 grams of 22-karat gold climbed by Rs16,661 to reach Rs450,224. Experts said the surge reflects strong domestic and global demand for gold amid economic and geopolitical uncertainty.
Global Gold Price Trends
Internationally, the gold price rose sharply, gaining $212 per ounce to settle at $5,505. Spot gold briefly touched $5,594.82 per ounce, marking record highs for nine consecutive sessions. US gold futures for February delivery jumped 4.5% to $5,539.20, earlier hitting an all-time high of $5,626.80.
Analysts attributed the rise in gold price to safe-haven demand as investors reacted to global economic unease and political uncertainty in the United States. ANZ analyst Soni Kumari said concerns over the Federal Reserve’s independence and investor trust have intensified gold buying.
Silver and Other Precious Metals
Silver followed gold’s upward trend, with 24-karat silver per tola reaching Rs12,175, up by Rs264. The price of 10 grams of silver rose to Rs10,438. Analysts noted that central bank purchases and geopolitical tensions have driven both gold and silver to historically high levels.
Investor Outlook
The current rally in gold price is seen as a response to a weaker dollar, rising global debt, and instability in financial markets. Experts advise investors to monitor gold and silver closely, as safe-haven demand remains strong.
In other news read more about Gold Hits Record Highs Amid Global Uncertainty and Safe-Haven Demand
With Pakistan’s gold price reaching unprecedented levels, local buyers and traders are watching international trends carefully, while investors continue to treat gold as a hedge against economic uncertainty.
