Gold prices hit fresh all-time high in Pakistan on Wednesday in line with increase in rates of the yellow metal in the international market.
In Pakistan, gold price per tola hit Rs376,700 after it gained Rs6,000, as per rates shared by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA).
Similarly, 10-gram gold was also sold at record high of Rs322,959 after it accumulated Rs5,144.
On Tuesday, gold price per tola remained stable at Rs370,700.
Meanwhile, international rate of gold also set a record high after it reached $3,540 per ounce (with a premium of $20), a gain of $60 as per APGJSA.
Moreover, silver price per tola clocked in at Rs4,315, after an increase of Rs12.
Gold’s latest rally, triggered by expectations of US rate cuts, concerns about Federal Reserve independence and strong demand from investors as well as the central bank, is likely to propel prices to new records in the coming weeks, Reuters reported on Wednesday.
Analysts see spot gold, which hit a record high of $3,527.5 as of 1700 GMT on Tuesday, in a $3,600-$3,900 range in the near to medium term, with potential to test the $4,000 level in 2026 if economic and geopolitical uncertainties persist.
Gold has gained more than 34% this year and analysts have steadily raised their average 2025 price outlook from $2,756 an ounce in January to $3,065 in April and most recently to $3,220 in July, according to Reuters polls.
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