Gold Prices Hit Record Rs. 428,200 Per Tola in Pakistan
Gold and silver prices in Pakistan hit new record highs as global market gains and US-China tensions push investors toward safe assets.
Israr Ahmed
Gold prices in Pakistan have hit a new peak, tracking global market surges and renewed demand for safe-haven investments amid uncertainty over US China trade relations.
According to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), the price of gold per tola jumped Rs. 5,500 on Monday, touching Rs. 428,200 the highest level ever recorded. The price of 10-gram gold rose by Rs. 4,715, settling at Rs. 367,112.
Rally Mirrors Global Trend
The local market surge follows similar movements worldwide, where spot gold climbed 0.7% to $4,044.29 per ounce, after touching a record $4,059.30. The international rate, including a $20 premium, stood at $4,071 per ounce, showing a $55 daily gain, APGJSA reported.
Analysts say the rise reflects global investors’ rush toward gold amid renewed trade tensions between the US and China and growing expectations of Federal Reserve rate cuts.
Silver Shines Too
Silver also followed gold’s upward trend, with its price per tola increasing by Rs. 147 to reach a record Rs. 5,247.
This comes after Saturday’s jump when gold per tola had already risen by Rs. 2,100, closing at Rs. 422,700 setting the tone for continued market momentum.
Market Voices: Traders Warn of Unstable Outlook
“Gold has always reflected fear and uncertainty,” said Ahmed Jawed, a Karachi-based bullion trader.
“With geopolitical tensions rising and inflation concerns growing, we are likely to see more spikes before stability returns.”
Traders added that fluctuations in the Pakistani rupee and international oil prices could further influence domestic gold rates in the coming weeks.
Impact on Local Buyers and Jewellers
The record-setting rates may cool local jewelry demand, particularly among middle-income buyers preparing for the wedding season.
According to jewellers, sales have already slowed in Karachi and Lahore markets due to affordability concerns.
“Customers are delaying purchases or shifting to lighter jewelry,” said one Lahore jeweller. “This kind of surge always hits small businesses first.”
What to Expect Next
Experts predict continued volatility in global gold markets until the US Federal Reserve’s next policy meeting, which may determine the timing of interest rate cuts.
If rates are reduced, gold could remain above Rs. 425,000 per tola in Pakistan through the end of October.
