KARACHI: Gold prices in Pakistan continued to rise, following an upward trend in international markets. In the local market, the price of gold per tola surged by Rs1,346, reaching a historic high of Rs300,046.
Similarly, the price of 10-gram gold increased by Rs1,154, settling at Rs257,241, according to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA). The surge in gold prices is largely attributed to trade war concerns, which have led to increased demand for gold as a safe-haven asset ahead of the key US payrolls report.
Brian Lan, managing director of GoldSilver Central, commented that gold prices are likely to keep climbing as they enter uncharted territory. The rising prices are also a result of trade tensions, with US President Donald Trump imposing tariffs on goods from Mexico, Canada, and China, aiming to curb fentanyl and illegal immigration. In response, China levied tariffs on US imports.
On the international front, gold reached a record high of $2,869 per ounce, a $10 increase during the day. Meanwhile, silver prices also saw a rise, with silver per tola increasing by Rs51, reaching Rs3,378.
