Gold prices in Pakistan surged to a new all-time high on Monday, reflecting the upward trend in international markets. The price of gold per tola in the local market reached Rs309,500, marking a single-day increase of Rs1,500. Similarly, the rate for 10-gram gold rose by Rs1,286, bringing the price to Rs265,346, according to the latest figures released by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA).
The rise follows a Rs1,000 increase on Saturday, when gold per tola had settled at Rs308,000. This consistent uptrend highlights growing investor interest in the precious metal amid global economic uncertainties.
International Gold Market Trends
Globally, gold prices saw a retreat on Monday as investors took profits following recent record highs. However, analysts suggest that gold may still be on track for further gains. Tim Waterer, chief market analyst at KCM Trade, noted that despite a risk-averse market environment, profit-taking activities have prevented gold from capitalizing on safe-haven demand.
“Gold has been unable to capitalize on the broader risk-averse theme of the market, with profit-taking moves offsetting any rise in safe-haven demand,” Waterer told Reuters.
Market observers are now closely watching the upcoming US inflation report, set to be released later this week, as it could significantly influence gold’s trajectory.
Adding to global trade uncertainties, former US President Donald Trump recently announced plans to introduce fresh tariffs in the coming month. His proposals include imposing duties on imported cars, semiconductors, pharmaceuticals, lumber, and forest products. These developments could further impact market sentiment and drive demand for gold as a safe-haven asset.
Gold and Silver Prices Continue to Rise
According to APGJSA, the international gold rate increased by $12 per ounce on Monday, bringing it to $2,948 per ounce (including a $20 premium).
Meanwhile, silver prices also saw an increase in the local market, rising by Rs15 per tola to settle at Rs3,395.
As global economic uncertainty persists and trade tensions escalate, experts predict that gold prices may continue to break records in the coming days, both in Pakistan and international markets. Investors and traders are now eagerly awaiting key economic data that could shape the direction of gold prices in the near future.
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