Gold prices witnessed a record surge of Rs 21,100 per tola, pushing the rate to Rs 551,662 per tola.
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Web Desk
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KARACHI: For the first time in Pakistan’s history, the price of gold has crossed the Rs 550,000 per tola mark.
According to the All Pakistan Gems and Jewellers Association (APGJA), gold prices witnessed a record surge of Rs 21,100 per tola, pushing the rate to Rs 551,662 per tola.
Similarly, the price of 10 grams of gold increased by Rs 19,080, reaching Rs 472,961.
In the international market, gold prices rose by $211, taking the rate to $5,293 per ounce.
Meanwhile, silver prices also recorded an increase of Rs 271, with the new rate standing at Rs 11,911 per tola.
Earlier, Gold has hit a historic milestone, soaring past $5,100 an ounce for the first time, buoyed by escalating geopolitical uncertainties and a surge in safe-haven demand.
As of early, spot gold was trading at $5,089.78 per ounce, after briefly reaching an all-time high of $5,110.50. US gold futures for February delivery also climbed to $5,086.30.
This rally marks a 64% increase in gold prices for 2025, the strongest annual gain since 1979. Contributing factors include aggressive central bank buying most notably China’s 14th consecutive month of gold purchases massive inflows into exchange-traded funds, and easing US monetary policy.
The surge comes amid ongoing trade tensions initiated by the Trump administration, which has imposed tariffs up to 50% on various countries, disrupting supply chains and inflating business costs. Recent geopolitical developments, including threats of tariffs against Canada and France, have further fueled investor uncertainty.
Silver also made significant gains, crossing $100 an ounce for the first time in history, driven by retail investor enthusiasm and market tightness.
