KARACHI: Gold prices in Pakistan reached a fresh all-time high on Friday, mirroring the rise in international gold rates. The price of gold per tola surged by Rs1,500, settling at Rs291,800, while the 10-gram price increased by Rs1,286 to reach Rs250,171, according to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA).
This hike follows a previous increase on Thursday, when gold prices had risen by Rs1,600, setting a then-record high of Rs290,300 per tola. On the international front, gold prices also surged, with the rate hitting $2,792 per ounce, a rise of $14 during the day.
Meanwhile, silver prices in Pakistan stood at Rs3,300 per tola.
Globally, gold prices reached a new peak on Friday, continuing their climb for a fifth consecutive week. The spike in demand for the precious metal was driven by rising US tariff concerns, as investors sought a safe-haven investment amidst economic uncertainty. The price of spot gold rose by 0.1% to $2,797.48 per ounce, with an earlier high of $2,799.71, as global tensions fueled investor apprehension.
