KARACHI: Gold prices continued their upward momentum both internationally and in Pakistan’s local bullion markets on Thursday, while silver surged to an all-time high, driven by strong global industrial demand and tightening supplies. The latest rise has added fresh pressure on buyers but brought renewed interest from investors seeking safe-haven assets.
According to Express News, international gold prices increased by $5 per ounce, pushing the global rate to $4,212. This uptick in the international market immediately influenced local bullion prices across major Pakistani cities. In domestic markets, the price of 24-carat gold per tola rose by Rs500, reaching Rs443,562. Similarly, the price of 10 grams of 24-carat gold climbed by Rs428, bringing the new rate to Rs380,282.
Analysts attribute the persistent rise in gold prices to ongoing economic uncertainties, geopolitical tensions, and investor demand for stable assets. Even modest movements in the global bullion market are translating into noticeable increases in local rates due to currency fluctuations and import-dependent pricing mechanisms.
Silver prices saw an even more dramatic surge. In Pakistan, silver per tola increased by Rs85, hitting a record Rs6,452. The price for 10 grams of silver also rose sharply by Rs73, reaching Rs5,531—marking a new historical high. Jewellers and market experts note that silver’s rapid price rise is driven not only by investment demand but also by industrial usage in electronics, solar panels, and battery technologies.
Global silver trends reflect the same momentum. In international markets, spot silver rose 1% to $62.39 per ounce after earlier touching a record high of $62.88. The precious metal has gained an impressive 116% so far this year, supported by growing industrial consumption, falling inventories, and its recent addition to the United States’ critical minerals list.
Global gold movement saw minor fluctuations. Spot gold dipped 0.3% to $4,217.09 per ounce as of 1111 GMT, while US gold futures for February delivery increased by 0.5%, reaching $4,244.70 per ounce. These mixed movements reflect uncertainty over interest rate expectations and shifts in investor sentiment.
With both gold and silver touching new peaks, local traders expect continued volatility in the coming days. Buyers planning jewellery purchases may face higher costs, while investors may view the rising trend as an opportunity to diversify portfolios. As global economic conditions evolve, precious metal markets are likely to remain in focus for consumers and investors alike.
