Gold prices in Pakistan continued to climb, reaching an all-time high on Monday. The price per tola surged to Rs384,000 after gaining Rs6,100 during the day. According to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), 10-gram gold also hit a record Rs329,219 after rising Rs5,230.
On Friday, gold prices per tola were Rs377,900, marking a daily increase of Rs1,200. Silver prices also increased, with the per tola rate reaching Rs4,338 after gaining Rs23. This rise in local prices reflects the global trend of increasing gold rates.
Internationally, gold prices remain near historic highs, supported by expectations of a US Federal Reserve rate cut. The global gold price stood at $3,613 per ounce, with a $20 premium, gaining $61. Spot gold hovered around $3,583.41 per ounce early Monday.
The surge in gold prices follows a weaker-than-expected US jobs report, which boosted hopes for lower interest rates. Bullion reached a record $3,599.89 per ounce last Friday. However, US gold futures for December delivery slightly dropped by 0.8% to $3,624.
Overall, gold continues to be a safe haven for investors amid economic uncertainty. Rising prices in Pakistan mirror global trends and reflect investor confidence in gold’s value. Market watchers expect prices to remain volatile in the near term.