Gold prices in Pakistan hit a new record high on Friday, tracking the sharp gains seen in the international bullion market.
In the local market, the price of gold per tola soared by Rs14,100 during the day to reach an unprecedented Rs456,900. According to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), 10-gram gold was priced at Rs391,718 after an increase of Rs12,089. On Thursday, gold per tola[1] had already risen by Rs1,900 to close at Rs442,800.
Here is a breakdown of the latest prices:
| Type | Previous Price | Increase | New Price |
| Gold (per tola) | Rs442,800 | Rs14,100 | Rs456,900 |
| Gold (10 grams) | Rs379,629 | Rs12,089 | Rs391,718 |
| Silver (per tola) | Rs5,337 | Rs167 | Rs5,504 |
In the international market, gold prices also climbed sharply. The rate rose to $4,358 per ounce (including a $20 premium), marking an increase of $141 for the day. Spot gold traded at $4,362.39 per ounce, up 0.9%, after touching a record high of $4,378.69 earlier in the session. US gold futures for December delivery advanced 1.7% to $4,375.50.
| Type | Previous Price | Increase | New Price |
| Gold (per ounce) | $4,217 | $141 | $4,358 |
| Spot Gold | — | 0.9% ↑ | $4,362.39 |
| US Gold Futures (Dec) | — | 1.7% ↑ | $4,375.50 |
Silver prices in Pakistan also hit record highs, climbing by Rs167 to Rs5,504 per tola.
Globally, gold is on track for its best week in over 17 years, boosted by weakness in US regional banks, global trade tensions, and growing expectations of further interest rate cuts. The metal has gained around 8.6% this week and is poised for its strongest weekly performance since September 2008, recording record highs in every session.
References
- ^ gold per tola (www.techjuice.pk)