KARACHI: Gold prices witnessed a dramatic surge both in Pakistan and international markets following U.S. President Donald Trump’s announcement of a 90-day suspension on tariffs.
In the local market, the price of 24-karat gold soared by Rs10,000 per tola, reaching a historic high of Rs338,800. Similarly, the price of 10 grams rose by Rs8,573, bringing it to Rs290,466.
The global market also saw a major upswing, with gold prices jumping by $100 per ounce for the first time, hitting an unprecedented $3,218 per ounce. The combined effect of the tariff suspension and market speculation led to one of the sharpest single-day increases in recent history.
Just a day earlier, international gold prices had already risen by $78 per ounce. Reflecting that upward trend, gold rates in Pakistan had climbed by Rs7,800 per tola and Rs6,668 per 10 grams, indicating growing investor demand amid global economic uncertainty.
Traders and analysts attribute the surge to shifting investor sentiment, with gold being viewed as a safe haven in times of geopolitical and economic volatility. Market watchers are closely monitoring the trend as gold continues to test new highs.
