Gold prices have been on a historic surge, reaching new all-time highs both in Pakistan and globally.
The precious metal continues to gain strong momentum, reflecting increased demand amid economic uncertainty and geopolitical tensions.
Gold Prices in Pakistan Surge to Record Levels
On Saturday, gold prices in Pakistan witnessed a significant increase. According to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA):
- The price of 24-carat gold per tola climbed by Rs. 2,320, reaching Rs. 325,700.
- The rate for 10-gram gold surged by Rs. 1,994, bringing it to Rs. 279,240.
This steady upward trend follows a major price hike on Friday, when prices rose by Rs. 2,380 per tola, closing at Rs. 323,380.
As per reports from APGJSA, the global rate currently stands at $3,082.95 per ounce, reflecting a $8.95 increase in just one day.
This consistent rise in gold prices worldwide indicates strong investor confidence in the precious metal as a safe-haven asset.
Why Are Gold Prices Rising? Key Factors Behind the Surge
High inflation rates across major economies, including the United States and Europe, have driven investors towards as a hedge against inflation.
Rising interest rates and concerns over economic slowdowns have further strengthened gold's appeal as a store of value.
The ongoing Russia-Ukraine conflict, trade restrictions, and global recession fears have fueled uncertainty in financial markets.
Central banks worldwide are boosting their reserves, further pushing demand higher.
Countries like China, Russia, and India have been consistently stockpiling , adding pressure to global supply.
A decline in the US dollar's value has made more attractive for investors. Currency depreciation in several economies has encouraged more people to invest in gold as a reliable asset.
Predictions for Gold Prices
Financial analysts have mixed views on gold’s future prices:
- Bullish Scenario: Some experts believe could cross $3,500 per ounce in 2025 if inflation and global tensions persist.
- Bearish Scenario: Others argue that a stable economy and stronger stock markets could slow down gold’s rally.
Silver Prices Also on the Rise
Alongside gold, silver prices have also increased:
- Silver per tola rose by Rs. 15, reaching Rs. 3,625.
- The international silver market has seen strong demand due to its industrial and investment value.
