KARACHI: Gold prices in Pakistan surged to fresh record levels on Tuesday, with 24-carat gold climbing Rs5,100 to reach Rs398,800 per tola. The 10-gram price also increased by Rs4,372, settling at Rs341,906. Silver followed suit, gaining Rs42 per tola to Rs4,637 and Rs36 per 10 grams to Rs3,975.
The rally mirrored international trends, where bullion jumped $51 to $3,770 per ounce. Analysts attributed the surge to US Federal Reserve rate cuts, Washington’s tariff policies, and Treasury measures boosting gold’s role as a safe-haven asset. They also cited a weaker dollar, rising central bank purchases, and seasonal demand in India ahead of Diwali as key drivers.
Spot gold was last up 1% at $3,784.01 after briefly touching $3,790.82, while spot silver gained 0.4% to $44.24 per ounce. Platinum rose 1.5% to $1,437.56 and palladium advanced 1.9% to $1,201.
