Pakistan Gold Prices Break Records for Second Day in a Row

News Desk 

Islamabad: Gold prices surged to unprecedented levels in Pakistan on Thursday, mirroring a sharp rally in international bullion markets driven by economic uncertainty and strong safe-haven demand.

According to local bullion market sources, international gold prices jumped by $212 per ounce to a record $5,504, marking the second consecutive day of historic highs. The global surge quickly translated into domestic markets, pushing local prices to their highest levels on record.

In Pakistan, the price of gold per tola rose by Rs21,200 to Rs572,862, while the price of 10 grams increased by Rs18,175 to Rs491,136, according to Sarafa Markets in major cities.

Silver prices also climbed, with per-tola rates rising by Rs264 to Rs12,175, and 10-gram silver increasing by Rs227 to Rs10,438.

Read More: https://thepenpk.com/gold-prices-surge-in-pakistan-on-international-rally/

The rally builds on momentum from Wednesday, when gold prices crossed Rs551,500 per tola for the first time in Pakistan’s history following a sharp upswing in global markets. At that time, international gold breached the $5,300-per-ounce mark, fueled by a weaker US dollar, rising geopolitical tensions, and investor anxiety over the US Federal Reserve’s policy outlook.

Data from the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA) showed that on Wednesday alone, gold per tola surged by Rs21,100 to Rs551,662, while 10-gram gold jumped by Rs18,090 to Rs472,961. The gains followed a brief dip earlier in the week, when gold prices had slipped by Rs1,500 per tola.

Silver also reached record territory on Wednesday, with per-tola prices rising by Rs271 to Rs11,911, marking an all-time high in the domestic market.

Internationally, spot gold touched a peak of $5,311.31 per ounce and was trading 1.7 percent higher at $5,278.28 per ounce by 1605 GMT, after posting gains of more than three percent in the previous session, according to Reuters.

Market analysts say the sustained rally reflects growing investor demand for safe-haven assets amid mounting macroeconomic risks, persistent inflation concerns, and heightened geopolitical uncertainty.