KEY POINTS
- Gold price in Pakistan rises by Rs 9,200 per tola in a single session
- International gold touches $4,424 per ounce amid safe-haven demand
- Silver prices in Pakistan also hit a new all-time high
- Analysts see volatility ahead as global uncertainty persists
ISLAMABAD: Gold prices in Pakistan surged sharply on Monday, tracking a strong rally in international markets as investors worldwide sought safety amid heightened global uncertainty.
In the domestic market, the gold price per tola climbed to Rs 464,762 after gaining Rs 9,200 during the day, according to rates released by the All-Pakistan Gems and Jewellers Sarafa Association.
The price of 10-gram gold rose by Rs 7,888 to settle at Rs 398,458.
The sharp increase followed a volatile previous session. On Saturday, gold prices had dropped by Rs 4,700 per tola, closing at Rs 455,562, reflecting rapid swings driven largely by global market movements.
Internationally, gold prices jumped by $92 to reach $4,424 per ounce, including a premium of $20.
The surge was attributed to growing investor demand for safe-haven assets as geopolitical tensions, expectations of interest rate adjustments in major economies and currency fluctuations unsettled financial markets.
Silver prices also moved higher in the local market. Silver per tola rose by Rs 267 to reach Rs 8,023, marking a new all-time high.
Analysts say silver has benefited not only from safe-haven buying but also from its growing industrial use, particularly in renewable energy and electronics.
For international readers, Pakistan’s gold market closely mirrors global trends, with local prices influenced by movements in international bullion rates and the exchange rate of the rupee against the US dollar.
Any sharp change in global prices is quickly reflected in domestic rates.
Market observers caution that gold and silver prices may remain volatile in the near term.
Continued geopolitical uncertainty, central bank policy decisions and shifts in investor risk appetite are expected to play a key role in determining price direction.
Many analysts believe precious metals could stay well supported if global economic risks persist, though short-term corrections cannot be ruled out after such steep gains.
