Gold scales new peak in Pakistan

Gold prices in Pakistan rebounded sharply on Monday following an uptrend in international markets.

The price of gold per tola rose by Rs4,000, reaching a new all-time high of Rs303,000, according to figures released by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA).

Similarly, the price of 10-gram gold increased by Rs3,429, selling at Rs259,773.

The surge comes after a decline in the previous session, when gold prices had dropped by Rs1,046 per tola, settling at Rs299,000 on Saturday.

Read more: Gold price drops in Pakistan

In the global market, gold prices firmed on Monday, hovering near record levels as investors turned to the precious metal amid economic uncertainty.

The international price of gold reached $2,903 per ounce (including a $20 premium), marking an increase of $42 during the day.

Investor interest in gold was fueled by concerns over a potential global trade war, following an announcement by US President Donald Trump.

Over the weekend, Trump stated that he would introduce new 25% tariffs on all steel and aluminum imports into the US, in addition to existing metal duties.

He also indicated plans to impose reciprocal tariffs on several countries in the coming days.

Gold is often viewed as a safe-haven asset during economic instability, though its appeal can be affected by higher interest rates.

Meanwhile, silver prices also saw an increase in the local market, rising by Rs43 to reach Rs3,373 per tola.