ISLAMABAD: Gold prices in Pakistan surged to an all-time high on Monday, reflecting both strong global demand and persistent volatility in commodity markets. The increase marks one of the steepest single-day gains recorded this month.
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According to figures released by the All Pakistan Sarafa Gems and Jewellers Association (APSGJA), the price of 24-karat gold per tola jumped by Rs7,700 to reach a new record of Rs480,962. Meanwhile, the price of 10 grams of 24-karat gold rose by Rs6,602 to settle at Rs412,347.
Rates for 22-karat gold also climbed significantly, with 10 grams advancing by Rs6,052 to Rs377,998. Dealers attributed the continued rise to both currency fluctuations and sustained investment interest in precious metals.
Silver markets moved in the same direction, posting notable gains during the session. The price of 24-karat silver per tola increased by Rs430 to Rs8,895, while 10 grams rose by Rs369 to Rs7,626.
On the international front, gold prices extended their rally amid geopolitical risk and strong hedge demand from institutional investors. Global gold rose by $77 to reach $4,586 per ounce, while silver added $4.30 to settle at $84.20 per ounce.
Analysts say the sustained upward trend in global markets has provided strong support to domestic bullion prices. They also note that concerns over inflation, currency depreciation and central bank buying continue to make gold attractive as a safe-haven asset.
Jewellers expect trading activity to remain elevated through the week as investors watch for potential policy signals from major economies. However, some anticipate profit-taking if volatility increases or if international prices cool off.
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Despite the sharp rise, bullion traders in Pakistan say demand from small buyers remains cautious due to affordability constraints. Retail activity is expected to pick up closer to wedding season and year-end holidays.