Gold prices in Pakistan soared to an all-time high on Thursday as global bullion rates continued their upward momentum. According to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), the price of gold per tola surged by Rs. 1,900, reaching a record Rs. 442,800 in the local market, while 10-gram gold rose by Rs. 1,629 to Rs. 379,629.
This sharp increase comes a day after gold prices saw a major drop of Rs. 4,578 per tola, closing at Rs. 420,600 on Wednesday. The latest rebound reflects renewed investor interest in the safe-haven metal amid global economic uncertainty.
Globally, gold prices climbed to $4,217 per ounce (including a $20 premium), showing a gain of $19, as demand strengthened on expectations of delayed U.S. interest rate cuts.
“The surge in gold prices reflects both international market trends and the impact of the Pakistani rupee’s recent fluctuations,” an APGJSA spokesperson noted.
Meanwhile, silver prices remained stable at Rs. 5,337 per tola, showing no change from the previous session.
Experts believe the local gold market will remain volatile in the coming weeks as global economic uncertainty and currency pressures persist.