Gold prices in Pakistan surged to a record high on Monday, with bullion rates reaching unprecedented levels in local markets as global precious metal prices climbed sharply. According to traders, the domestic price of gold per tola and per 10 grams hit all-time peaks, reflecting strong gains in international markets and persistent demand from investors seeking safe-haven assets amid volatility in global commodity markets.
The All-Pakistan Gems and Jewellers Sarafa Association reported that gold prices jumped significantly, with the 24-karat gold rate climbing to levels not seen before in Pakistan. Silver prices also increased alongside gold, contributing to broad gains across the precious metals spectrum. Market analysts attributed the surge to external factors such as rising international bullion rates, shifting investor sentiment and ongoing economic uncertainties influencing commodity markets worldwide.
Despite the steep rise, local demand from everyday buyers remained cautious due to affordability constraints, although activity is expected to pick up nearer the wedding season and year-end holidays, when traditional demand typically strengthens.