Gold prices in Pakistan reached a new all-time high on Tuesday, continuing their upward trend alongside gains in the global market. According to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), the price of gold per tola rose by Rs4,100, hitting Rs388,100. This marks another record-breaking day after Monday’s Rs6,100 jump, when prices reached Rs384,000.
Similarly, the price of 10-gram gold also set a new record. It climbed by Rs3,514 during the day to settle at Rs332,733. The consistent upward movement in domestic gold rates is closely tied to rising global prices and currency fluctuations. Jewellers note that investor demand remains strong amid continued economic uncertainty and inflation fears.
In the international market, gold prices also surged. Spot gold rose 0.5% to $3,651.96 per ounce, while US gold futures for December delivery gained 0.4% to $3,690.90. Analysts attributed the rise to a weakening US dollar and falling bond yields, which have strengthened market expectations for a US Federal Reserve rate cut later this month.
Silver prices in the local market also followed suit. Silver per tola gained Rs20 to reach Rs4,358. The consistent appreciation in both gold and silver reflects strong investor interest in precious metals as safe-haven assets. As the global economic outlook remains uncertain, precious metals continue to attract capital.