Pakistan’s bullion market witnessed a historic surge on Tuesday as gold prices touched record levels, reflecting strong momentum in both domestic and global markets.
In local trading, gold jumped sharply to Rs. 470,862 per tola, registering an increase of Rs. 8,500 in a single day. The rate for 10 grams also moved significantly higher, settling at Rs. 403,688, according to figures released by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA).
Just a day earlier, gold was priced at Rs. 462,362 per tola, following a gain of Rs. 6,200, highlighting the pace at which prices have accelerated.
On the international front, gold climbed by $85, pushing the rate to $4,485 per ounce, including a $20 premium. Meanwhile, silver prices remained stable in the local market at Rs. 7,205 per tola.
Global gold markets also reached fresh peaks as rising geopolitical tensions between the United States and Venezuela, combined with expectations of lower US interest rates, increased demand for safe-haven assets. Spot gold advanced 0.9% to $4,486.41 per ounce by early GMT trading, after briefly touching an intraday record of $4,497.55. US gold futures for February delivery climbed 1.1% to $4,519.70.
