Gold prices in Pakistan reached a record high on Monday as global rates surged sharply. The increase came after international gold prices jumped by $55 to $4,071 per ounce. This global rise directly affected local markets, pushing the gold prices in Pakistan to unprecedented levels.
The price of 10 grams of 24-karat gold rose by Rs4,715 to Rs367,112. Similarly, the rate of one tola increased by Rs5,500, reaching Rs428,200. Local jewellers said the strong rally followed the weekend’s calm market, where rates had remained stable. The sudden spike reflected both international price trends and changes in investor sentiment.
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Experts linked the surge to renewed trade tensions between the United States and China. They said the uncertainty in global markets encouraged investors to shift toward gold as a safe-haven asset. Additionally, expectations of a US interest rate cut further boosted demand. These factors together fueled the sharp upward movement in the gold prices in Pakistan.
Analysts believe the rally may continue if global economic uncertainty persists. They noted that geopolitical tensions and weaker currencies often strengthen gold’s position as a secure investment. Pakistan’s gold traders, however, expressed concern that rising prices could hurt domestic demand ahead of the wedding season.
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Despite the challenges, the market outlook remains bullish as international investors continue to seek safety in gold. Local markets are expected to follow global trends in the coming days. With both global and domestic rates climbing, the gold prices in Pakistan may remain high unless trade tensions ease or economic stability returns.