Pakistan’s gold market witnessed historic movement on Thursday as prices surged to an unprecedented Rs350,000 per tola.
Data released by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA) indicates a remarkable milestone: Rs2,000 more than Wednesday’s previous record high of Rs348,000.
The 10-gram gold price followed the upward trend, climbing Rs1,715 to settle at Rs300,068. This latest surge continues Wednesday’s dramatic Rs8,600 per tola increase, highlighting the precious metal’s extraordinary volatility in recent trading sessions.
International markets mirrored Pakistan’s bullish gold trend, with global rates reaching $3,329 per ounce (including a $20 premium) – a $19 daily increase. Market analysts attribute the sustained rally to factors including inflationary pressures, currency fluctuations, and shifting investor sentiment amid global economic uncertainty.
Read: Gold Prices in Pakistan Reach Record High Amid Global Surge
Silver prices joined the precious metals rally, gaining Rs59 to close at Rs3,401 per tola in local markets. The simultaneous rise of gold and silver suggests broad-based demand for safe-haven assets among Pakistani investors.
Market specialists at APGJSA note that domestic gold prices typically reflect international benchmarks, with adjustments for local market conditions and import costs. The current premium of $20 over international rates indicates strong domestic demand coupled with potential supply chain considerations.
