Gold prices in Pakistan surged to a fresh record high on Monday, following international trends. The price per tola rose by Rs3,400 in a single day, reaching Rs393,700. Meanwhile, the 10-gram gold price climbed to Rs337,534, up Rs2,915.
On Saturday, gold per tola had already increased by Rs1,700 to Rs390,300. The rise in local prices mirrors a global uptick in gold rates. According to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), the international gold rate stood at $3,719 per ounce, including a $20 premium.
Read more: Gold and silver prices surge in local market
Silver prices also saw an increase, rising by Rs63 per tola to Rs4,595. Investors worldwide are watching closely as gold nears record levels amid economic uncertainty. U.S. Federal Reserve speeches and upcoming inflation data are creating market volatility.
International gold prices hovered near a record high, with spot gold edging up 0.1% to $3,688.76 per ounce early Monday GMT. The bullion hit an all-time peak of $3,707.40 last Wednesday. U.S. gold futures for December delivery rose 0.5% to $3,723.70.
The gold market’s strength reflects cautious investor sentiment following the Federal Reserve’s recent interest rate cuts. Analysts suggest further easing could push prices even higher in the coming weeks.