Gold prices surged to historic highs on Monday, setting new benchmarks in both international and domestic markets. This rally was driven by strong safe-haven demand and sustained investor buying momentum across the board.
In the global bullion market, spot gold rose sharply. It increased by 1.7% to $4,413.01 per ounce, after touching an intraday record high of $4,420.01. US gold futures for February delivery followed suit, gaining 1.4% to $4,446.70 per ounce.
Similarly, silver prices rallied significantly. Spot silver climbed 2.8% to $68.98 per ounce, after hitting a new all-time high of $69.44 during the trading session.
Pakistani Market Mirrors Global Rally
Following the international trend, gold prices in Pakistan also reached unprecedented levels. The price of gold per tola jumped by Rs 6,200 to settle at a historic high of Rs 462,362.
Read: Gold Hits Record High as Rate-Cut Bets and Safe-Haven Demand Fuel Rally
Consequently, the price of 10 grams of gold rose by Rs 5,315 to a record Rs 396,400. This surge continued the upward momentum from Saturday, when local prices also registered significant gains.
Market analysts identified key drivers behind the sharp appreciation. The rise is attributed to continued global economic uncertainty and expectations of monetary policy easing by major central banks.
Furthermore, strong investor demand for precious metals persists. Gold and silver are viewed as reliable hedges against inflation and geopolitical risks, fueling sustained buying pressure.
