Gold prices in Pakistan soared to unprecedented levels on Friday, with the per-tola rate reaching an all-time high of Rs338,800 – a staggering single-day increase of Rs10,000.
According to data from the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), the 10-gram price similarly climbed Rs8,573 to settle at Rs290,466, while silver prices maintained stability at Rs3,234 per tola.
This domestic surge mirrors global trends: spot gold gained 0.6% to $3,192.79 per ounce, and U.S. gold futures jumped nearly 2% to $3,237.50. Market analysts attribute the rally to multiple factors, most notably the escalating trade conflict between the United States and China. The recent imposition of reciprocal tariffs, in which President Trump raised duties on Chinese imports to 145%, and China responded in kind, has significantly heightened economic uncertainty worldwide.
Read: Gold Prices Hit Record High in Pakistan Amid Global Trade Tensions
The weakening U.S. dollar, which fell nearly 1% against major currencies, further bolstered gold’s appeal. As investors increasingly seek safe-haven assets amid fears of a global economic slowdown, precious metals have emerged as preferred stores of value. This trend reflects broader market sentiment that views gold as a reliable hedge against currency fluctuations and geopolitical instability.
Economic experts note that the current price movements represent more than typical market volatility. The simultaneous rise in domestic and international gold prices suggests structural shifts in global trade relationships reshape investment patterns. With no immediate resolution in sight for the U.S.-China trade dispute, analysts predict sustained demand for gold may continue driving prices upward in the near term.
