Gold prices soared to unprecedented levels in Pakistan and globally on Monday, April 21, 2025, fueled by economic uncertainty, central bank gold purchases, and fears of stagflation. As investors sought safe-haven assets amid geopolitical and financial instability, gold and silver prices surged, impacting markets worldwide.
In the international bullion market, gold per ounce rose by $69, reaching a historic $3,395. At 0815 GMT, spot gold increased by 1.7% to $3,385.28, after a peak of $3,395.95. US gold futures also climbed 2.1% to $3,396.60. Key drivers included:
Under President Donald Trump’s tariff proposals, geopolitical tensions and uncertainty in US trade policy have led to global market volatility, with investors withdrawing from US assets. Additionally, China has warned against economic deals that may sideline its interests.
Other precious metals saw mixed trends:
- Spot silver: Up 0.5% to $32.74 per ounce.
- Platinum: Up 0.4% to $971.10.
- Palladium: Down 0.3% to $958.93.
Read: Gold Hits Record High as Dollar Weakens Amid Trump Tariff Tensions, Fed Feud
Pakistan’s Bullion Market Response
Pakistan’s local markets mirrored the global surge, with significant price increases:
- 24-karat gold per tola: Rose by Rs 8,100 to a record Rs 357,800.
- 10 grams of 24-karat gold: Increased by Rs 6,944 to Rs 306,755.
- Silver per tola: Up by Rs 24 to Rs 3,441.
- 10 grams of silver: Rose by Rs 21 to Rs 2,950.
Local dealers noted the immediate impact of global trends, as investors turned to gold as a hedge against economic instability.
