Gold prices in Pakistan surged to an all-time high as global investors flocked to safe-haven assets amid economic and geopolitical uncertainty. According to the All Pakistan Sarafa Gems and Jewelers Association (APSGJA), the price of gold rose by Rs6,000 per tola to a historic Rs376,700, while 10 grams jumped Rs5,144 to Rs322,959.
The rally mirrors global trends, with spot gold climbing 0.9% to $3,562.80 per ounce and reaching a record $3,565.57. Investors are betting on a possible US Federal Reserve rate cut, following weak employment data. Adnan Agar, Director at Interactive Commodities, noted, “There are chances that it will make a correction after going near $3,580 or $3,600.”
Analysts expect short-term pullbacks but remain bullish on gold’s long-term prospects, citing persistent global risks. Meanwhile, the World Gold Council unveiled a new trading framework—Pooled Gold Interests—to make physical gold more accessible and tradeable in fractional amounts.
Back home, the Pakistani rupee slightly strengthened against the US dollar for the 19th consecutive session, closing at 281.71. The State Bank of Pakistan also raised Rs551.97 billion through government securities, including bonds and treasury bills, signaling robust market activity.
