On March 13, 2025, gold prices surged in international and local markets. Globally, the price per ounce increased by $27 to $2,942. In Pakistan, the price per tola rose by Rs2,800, bringing it to Rs309,300.
Internationally, spot gold climbed 0.3% to $2,940.99 per ounce, nearing its February 24 peak of $2,956.15. Locally, gold per 10 grams hit a record Rs265,174, up Rs2,400. Just yesterday, the tola price rose by Rs500 to Rs306,500. US gold futures also edged up 0.1% to $2,950.80.
Tariff tensions and a cooling US inflation report fuel this gold price surge. President Trump’s shifting trade policies, which impose tariffs on Canada, Mexico, and China, have unsettled markets. In response, China and Canada retaliated with tariffs. Meanwhile, Wednesday’s data showing lower consumer prices keeps hopes alive for a Federal Reserve rate cut, favoring gold in a low-rate environment.
Read: Gold Prices in Pakistan Slide to Rs306,000 Per Tola
Macquarie predicts gold could reach $3,150 per ounce by Q3, with a potential high of $3,500 in 2025. Silver forecasts rose 2-4%, despite weaker industrial demand. Investors now eye the US Producer Price Index (PPI) data at 12:30 GMT for Fed policy clues. Other metals lagged: silver fell 0.6% to $33.03, platinum dropped 1.2% to $972.70, and palladium declined 0.5% to $944.07.
This gold price surge underscores its role as a safe-haven asset amid global trade chaos and monetary shifts. As prices climb, both investors and locals brace for further economic signals.
