Gold prices in Pakistan surged sharply on Monday, moving closer to the Rs. 500,000 per tola milestone, while silver set a new all-time record in the local market. The upward movement followed strong gains in global precious metal prices.
According to market rates released by the All-Pakistan Gems and Jewellers Sarafa Association, the price of gold per tola jumped by Rs. 7,500, settling at Rs. 489,362. This marks one of the highest levels ever recorded in the domestic bullion market.
At the same time, the price of 10-gram gold increased by Rs. 428, reaching Rs. 419,549, reflecting sustained buying pressure from investors and traders.
Sharp Rebound After Recent Decline
Just a day earlier, gold prices had fallen significantly, closing at Rs. 481,862 per tola after a notable single-session drop. Monday’s sharp rebound highlights ongoing volatility in the precious metals market, driven largely by global economic uncertainty.
International Gold Prices Strengthen
In the international market, gold prices also posted strong gains. The global rate rose by $75 to $4,670 per ounce, including premium charges. Analysts link the increase to renewed demand for safe-haven assets amid inflation concerns and currency fluctuations.
Silver Breaks All Previous Records
While gold attracted attention, silver outperformed, setting a new record in Pakistan. The price of silver per tola climbed by Rs. 300, reaching Rs. 9,782, the highest level ever seen in the local market.
Silver’s rally is being driven by a combination of industrial demand and investment buying, both locally and globally.
What’s Driving the Price Surge?
Market observers point to several factors behind the sharp rise in gold and silver prices:
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Strong international bullion market momentum
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Ongoing inflation and economic uncertainty
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Currency pressure and investor demand for safe assets
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Increased local buying amid expectations of further price increases
Market Outlook
With gold approaching the Rs. 500,000 per tola mark and silver continuing its upward trend, traders expect continued volatility in the coming days. Prices may remain sensitive to global market movements, currency changes, and investor sentiment.
Buyers and investors are advised to monitor daily rates closely before making decisions, as precious metal prices remain highly dynamic.
