In a striking turnaround, gold prices in Pakistan rebounded sharply on Thursday, aligning with the bullish trend in the international gold market.
This comes after a recent dip, marking another record-breaking day for the precious metal. As economic uncertainties persist, gold continues to cement its status as a preferred safe-haven investment.
According to the latest rates issued by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), gold price per tola in Pakistan increased by Rs2,500, reaching an all-time high of Rs304,000.
Meanwhile, the price of 10-gram gold jumped by Rs2,144 to settle at Rs260,631.
Gold Prices Reach New Heights in the Local Market
This surge in gold prices reflects broader global trends, where increasing geopolitical tensions and economic uncertainties continue to drive investors toward precious metals. The demand for gold remains high as inflationary pressures push investors to hedge against currency devaluation.
The surge in gold prices was accompanied by an increase in silver prices. In the local Pakistani market, silver per tola registered an increase of Rs55, reaching Rs3,367.
His statement, posted in all capital letters on Truth Social, emphasized the US’s readiness to impose matching tariffs on imported goods, aligning their rates with the tariffs imposed on American exports.
Such economic policies tend to increase investor uncertainty, driving demand for safe-haven assets like gold. Market participants also awaited US economic data, which could further influence Federal Reserve policies and global commodity markets.
Why Are Gold Prices Rising?
- International Market Trends: The global gold price rose by $25 per ounce, reaching an unprecedented $2,913 per ounce (including a $20 premium), mirroring its strength in major economies.
- US Trade Policies: A key driver behind this rally is the anticipation of US President Donald Trump’s reciprocal tariffs on trading partners, which could ignite fresh trade conflicts.
- Weaker US Dollar: A weakening US dollar index (DXY) has further bolstered gold prices, as a lower dollar makes the precious metal cheaper for investors holding other currencies.
