As Expected: Gold Price in Pakistan Breaks Another Record, Silver Follows

Gold prices in Pakistan soared to record highs on Monday, while silver also reached a new all-time level. In the local market, the price of gold per tola climbed to Rs. 462,362 after a sharp increase of Rs. 6,200 during the day. Similarly, the price of 10-gram gold was reported at Rs. 396,400, following a rise of Rs. 5,315, according to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA). On Saturday, gold prices had already set a record, with the per tola rate reaching Rs. 456,162 after a gain of Rs. 1,300. Internationally, gold prices also surged, rising by $62 to reach $4,400 per ounce, including a premium of $20. Meanwhile, silver prices in the local market increased by Rs. 218 to hit Rs. 7,205 per tola, marking a new all-time high. In the international market, gold crossed the $4,400-per-ounce mark for the first time today, driven by expectations of U.S. interest rate cuts and continued safe-haven demand. Spot gold rose 1.7% to $4,413.01 per ounce as of 0955 GMT, after reaching a record high of $4,420.01 earlier in the session. U.S. gold futures for February delivery also climbed, up 1.4% to $4,446.70 per ounce. Bullion has surged nearly 68% so far this year, marking its largest annual gain since 1979. The rally has been fueled by robust central bank purchases, persistent safe-haven flows, and a lower interest rate environment. Silver prices followed gold’s lead, with spot silver jumping 2.8% to $68.98 per ounce after hitting a new record high of $69.44 earlier in the day. Silver has soared 138% year-to-date, supported by a persistent supply deficit, rising industrial demand, and strong investment interest.