Gold prices in Pakistan surged to a new record high on Friday, following an increase in international rates. In the local market, the price of gold per tola rose by Rs. 2,900, reaching Rs. 289,600, according to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA). This marks the highest-ever price for gold in the country.
Similarly, the price of 10-gram gold increased by Rs2,486, settling at Rs248,285. The rise comes after a decline in the previous session, where gold prices had dropped by Rs750 to Rs286,700 per tola.
On the global front, gold prices also climbed on Friday, nearing a three-month high. According to APGJSA, the international rate of gold stood at $2,772 per ounce (including a $20 premium), reflecting a $29 increase during the day. The rise in global prices was attributed to growing uncertainty around US economic policies, which weakened the dollar and boosted demand for safe-haven assets like gold.
Silver prices in the local market also saw an increase, gaining Rs31 to reach Rs3,432 per tola.
This latest surge surpasses the previous all-time high of Rs287,900 per tola recorded in October last year. Globally, gold has been on a steady upward trend, marking its fourth consecutive weekly gain as investors turn to bullion amid economic uncertainty.
