Gold prices in Pakistan hit a new all-time high on Thursday after a sharp surge in international bullion markets, pushing the per tola rate close to Rs600,000 for the second consecutive day.
According to data released by the Sarafa Market Association, the international gold price jumped by a massive $212 per ounce, reaching a new historic peak of $5,504 per ounce in the global bullion market. This extraordinary surge immediately translated into sharp gains in the local market.
Local Gold Prices Surge to Historic Levels
In Pakistan, the price of 24-karat gold per tola rose by Rs21,200, reaching Rs572,862, marking the highest level ever recorded. This sharp rise follows a similar increase in the previous session, confirming a strong upward trend in the domestic bullion market.
Similarly, the price of 10 grams of gold increased by Rs18,175, settling at Rs491,136, reflecting strong buying momentum and limited supply.
Market dealers attributed the rapid rise to a combination of international price hikes, currency movements, and growing investor demand for safe-haven assets amid global economic uncertainty.
Gold and Silver Prices Summary
| Metal | Unit | Price | Change |
|---|---|---|---|
| Gold | Per Tola | Rs 572,862 | +Rs 21,200 |
| Gold | 10 Grams | Rs 491,136 | +Rs 18,175 |
| Silver | Per Tola | Rs 12,175 | +Rs 264 |
| Silver | 10 Grams | Rs 10,438 | +Rs 227 |
Gold Price Trend Over Last 2 Months
International Market Drives Price Rally
The global gold market witnessed extreme volatility as rising geopolitical tensions, currency fluctuations, and fears of economic slowdown fueled strong investor interest in precious metals.
The weakening of the US dollar, which recently dropped to a four-year low, significantly boosted gold demand worldwide. Additionally, ongoing geopolitical tensions and uncertainty over global economic stability have encouraged investors to shift capital into gold as a protective hedge.
Analysts also noted that central banks across multiple countries are increasing their gold reserves, further tightening supply in international markets and driving prices to new highs on a daily basis.
Silver Prices Also Break Records
Alongside gold, silver prices continued their strong upward trajectory, hitting new historic levels in the domestic market.
The price of silver per tola increased by Rs264, reaching Rs12,175, while 10 grams of silver rose by Rs227 to Rs10,438, setting fresh all-time highs.
Market participants said the continued rally in silver reflects the same global trends driving gold prices, including strong investment demand and rising industrial consumption.
Economic Factors Behind the Price Jump
Experts link the sustained rise in precious metal prices to multiple global factors. The growing trend of de-dollarization, ongoing geopolitical tensions, and increased gold purchases by central banks have created persistent upward pressure on prices.
Additionally, expectations of monetary easing by major economies have raised inflation concerns, prompting investors to safeguard their wealth through gold investments.
In Pakistan, the weakening rupee against major global currencies has further magnified the local price impact, making gold significantly more expensive for domestic buyers.
Market Outlook
Bullion traders expect continued volatility in gold and silver prices in the coming weeks. Any further escalation in geopolitical tensions or currency market instability could push prices even higher.
However, analysts caution that sharp corrections may also occur if global economic conditions stabilize or if profit-taking emerges after such an aggressive rally.
For now, gold remains one of the most sought-after assets, as both institutional and retail investors seek protection against economic uncertainty and currency depreciation.