Gold Prices Pakistan Reach Record High

Gold prices in Pakistan have surged to a record high of Rs348,000 per tola, with a significant rise of Rs8,600 in a single day, while 10 grams of gold reached Rs298,353, driven by a multi-day bullish trend and global trade war concerns.

The international gold price has also reached a new high of $3,310 per ounce, with a $20 premium, attributed to the lingering concerns over the global trade war between the US and China. The Pakistani rupee has appreciated by 0.04% against the US dollar, closing at 280.46, while the State Bank of Pakistan raised Rs1.225 trillion through two auctions.

Analysts attribute the rise in gold prices to growing global uncertainty, causing investors to turn to gold as a safe-haven asset. The price surge has led to a significant increase in the price of 22-karat gold, with 10 grams now priced at Rs273,500. Silver prices have also seen a modest rise, with silver per tola increasing by Rs54 to Rs2,966 and 10 grams of silver rising to Rs2,546.

The gold price in Pakistan has reached an all-time high, with 24-karat gold per tola reaching Rs348,000 and 10 grams of 24-karat gold settling at Rs298,353. The global market has also crossed $3,300 per ounce, with gold prices gaining $86 per ounce globally.

The surge in gold prices is expected to continue, driven by global uncertainty and the ongoing trade war. Investors are turning to gold as a safe-haven asset, leading to a significant increase in gold prices in Pakistan and globally.