Pakistan’s bullion market extended its record-breaking run on Friday as gold and silver prices surged further, mirroring the strength seen in international precious metals markets.
Silver led the rally locally, jumping by Rs. 240 per tola to reach a new all-time high of Rs. 7,945, reflecting strong momentum and rising investor interest. Gold also continued its upward trajectory, gaining Rs. 500 per tola to settle at Rs. 473,362, according to market rates. The price of 10-gram gold increased by Rs. 429, closing at Rs. 405,831.
Earlier in the week, gold had already crossed historic levels, setting a previous record of Rs. 472,862 per tola after a sharp single-day increase, underlining the pace of the rally.
International markets remained supportive, with gold edging higher to around $4,510 per ounce, including premium, while spot prices climbed after briefly touching a fresh intraday record. Futures contracts also moved higher, signaling continued bullish sentiment.
Silver outperformed gold globally as well, recording stronger percentage gains and hitting a new peak before easing slightly. The metal has benefited from a combination of investment demand and broader market enthusiasm.
Analysts point to speculative buying, thin year-end liquidity, and expectations of further U.S. interest rate cuts as key drivers behind the rally. Ongoing geopolitical uncertainties have further boosted demand for safe-haven assets, lifting not only gold and silver but also platinum into weekly gains.
Market watchers believe that if current conditions persist, precious metals could remain supported into the coming months, with both gold and silver continuing to attract strong interest from investors worldwide.
