Gold prices surge to all-time high in Pakistan

Gold prices in Pakistan surged to a record high on Friday, following a rise in global gold rates.

The price of gold per tola increased by Rs2,900, reaching Rs289,600, according to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA).

This is the highest price recorded in the country to date. Similarly, the price of 10 grams of gold rose by Rs2,486, settling at Rs248,285.

In contrast, the previous day saw a slight decline in gold prices, with a reduction of Rs750, bringing the price to Rs286,700.

The increase in local gold prices came in line with global trends, where gold prices also saw a significant rise.

On Friday, the international price of gold reached $2,772 per ounce, up by $29 from the previous day.

The rise in gold prices is attributed to ongoing geopolitical and economic uncertainties, particularly concerns about US President Donald Trump's trade policies, which have weakened the dollar and increased demand for safe-haven assets like gold.

Silver prices in Pakistan also saw an increase, rising by Rs31 per tola, bringing the price to Rs3,432.

Globally, gold prices have reached near three-month highs, and the metal is on track for its fourth consecutive weekly gain.

Spot gold rose 0.8% to $2,774.49 per ounce, with earlier prices reaching $2,777.10, the highest since late October.

Gold continues to be seen as a reliable hedge against economic and geopolitical instability, which has fueled its recent rise in value both in Pakistan and globally.