Gold prices in Pakistan reached an all-time high on Friday, continuing their upward trajectory amid a surge in international rates. According to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), the price of gold per tola increased by Rs. 10,000 in a single day, settling at Rs. 338,800 in the local market.
This follows a Rs. 7,800 per tola increase on Thursday, bringing the total two-day rise to Rs. 17,800 per tola—the largest ever two-day increase in Pakistan’s gold market.
The price of 10 grams of gold also saw a substantial jump, rising by Rs. 8,573 to reach Rs. 290,446. The sharp increase reflects the growing demand for gold as a safe-haven asset amid global economic uncertainties.
The surge in domestic gold prices mirrors a similar trend in the international market, where gold prices climbed to $3,218 per ounce on Friday, marking a $100 increase, including a $20 premium, as reported by the APGJSA.
The ongoing US-China trade war has escalated concerns among investors, prompting a shift toward safe-haven assets like gold. This has resulted in stellar gains for the yellow metal, both globally and in Pakistan.
