Key Points
• Gold price per tola jumps to a new all-time high of Rs 551,662
• Wednesday’s gain of over Rs 21,000 reflects the highest increase in a day
• International gold breaches $5,200 per ounce for the first time
• Weaker US dollar and policy uncertainty drive safe-haven demand
ISLAMABAD: Gold prices in Pakistan surged to yet another all-time high on Wednesday, following a powerful rally in international bullion markets as investors piled into safe-haven assets amid global economic uncertainty.
In the local market, the price of gold per tola climbed sharply to Rs 551,662, marking a steep single-day increase of Rs 21,100.
The 10 grams of gold also rose significantly to Rs 472,961, reflecting strong buying momentum and heightened volatility in the domestic bullion trade.
Market participants observed that the sharp upswing followed a renewed surge in global gold prices.
In the international market, bullion reached the threshold of $5,200 per ounce for the first time.
International prices were supported by a softer US dollar and cautious positioning ahead of the US Federal Reserve’s monetary policy decision, which investors fear could signal prolonged economic tightening or financial stress.
Traders believe that local gold prices tend to react swiftly to international movements, amplified by currency pressures and strong retail demand.
Silver prices also soared in the domestic market, reaching a new record, underscoring broad-based strength across precious metals.
Bullion dealers anticipate that price volatility is likely to persist in the near term.
They cited global monetary policy uncertainty, geopolitical risks, and sustained investor appetite for safe-haven assets as key factors likely to influence gold prices both internationally and in Pakistan.
