Gold prices in Pakistan surged to a fresh all-time high on Friday, continuing their bullish run in tandem with rising international trends. According to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), the price of gold per tola rose by Rs1,200 to reach a historic Rs377,900 in the local market. Similarly, the price of 10-gram gold climbed by Rs1,029, closing at a record Rs323,988. This rally follows Thursday’s relatively stable session, where the per tola price stood at Rs376,700. On the global front, gold also gained ground, with spot prices increasing by 0.3% to reach $3,556.21 per ounce, edging closer to the all-time high of $3,578.50 set earlier in the week. US gold futures for December delivery rose 0.2% to $3,615 per ounce. Internationally, bullion has now risen by 3.2% for the week, marking its strongest performance in three months. Analysts attribute the ongoing momentum to growing expectations of a US interest rate cut, uncertainty surrounding non-farm payroll data, and persistent geopolitical tensions, particularly the ongoing Russia-Ukraine conflict. Market sentiment is also being influenced by former President Donald Trump’s attempts to steer the US Federal Reserve towards a more dovish policy stance. While gold continues to attract investor interest as a safe haven, silver prices in Pakistan remained unchanged at Rs4,315 per tola. With global uncertainty and monetary policy shifts looming, gold’s upward trajectory may continue, keeping investors on alert in both domestic and international markets.
Gold Hits All-Time High in Pakistan, Tola Price Soars to Rs377,900
