Gold prices in Pakistan soared to an all-time high on Monday. The price per tola jumped by Rs5,500, reaching Rs428,200. This increase followed gains in the international market, reflecting strong global demand.
According to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), 10 grams of gold sold for Rs367,112, rising by Rs4,715 in one day. On Saturday, gold prices had already climbed by Rs2,100 to Rs422,700 per tola.
Read more: Gold price jumps Rs2,100 per tola in Pakistan
Internationally, gold prices rose due to safe-haven demand amid US-China trade tensions. Gold hit a record $4,071 per ounce, gaining $55 from the previous rate. Silver also reached new highs, with a tola priced at Rs5,247 after a Rs147 increase.
Globally, spot gold climbed 0.7% to $4,044.29 per ounce. US gold futures for December rose 1.6% to $4,062.50, indicating continued bullish momentum.
The rise in gold and silver prices signals investor caution amid economic uncertainties and expected interest rate cuts by the US Federal Reserve.