Driven by a continued rally in international markets, gold prices in Pakistan hit fresh highs on Thursday as 10-gram and one-tola rates rose to Rs441,239 and Rs514,662, marking gains of Rs7,802 and Rs9,100.
According to the All Pakistan Sarafa Gems and Jewellers Association (APSGJA), international gold prices rose by $91 per ounce to $4,923, based on interbank exchange rates.
Experts said investors are flocking to gold as a safe-haven amid geopolitical tensions and expectations of further US interest rate cuts, driving the surge in both global and domestic prices.
Investors must be upbeat as 10-gram and one-tola gold rates have surged by Rs206,671 and Rs241,062, respectively, if compared with the 10-gram and one-tola gold rates at Rs234,568 and Rs273,600 prevailing on Jan 1, 2025.
Silver rates followed the upward trend, with 24kt silver climbing to Rs10,275 per tola (up Rs372) and the 10-gram rate reaching Rs8,809 (up Rs319), as the world silver price rose $3.72 to $98 per ounce.