Gold prices hit all-time high in Pakistan

ISLAMABAD: Gold rates in Pakistan continued their record run on Monday (February 10, 2025) following the pattern of world gold prices.

The prices for 24 karat per tola increased by Rs4000, reaching Rs303,000, up from Rs2,99,000 in the previous trading day, as reported by the All Sindh Sarafa Jewellers Association.

Similarly, the price of 10 grams of 24 karat gold rose by Rs3,143 to Rs259,773 compared to Rs256,630 previously.

Meanwhile in the international market, gold prices jumped more than 1% on Monday to hit a record high, as safe-haven demand surged on fears of a global trade war after U.S. President Donald Trump announced new tariff plans.

Spot gold was up 1.5% to $2,903.19 per ounce, as of 1153 GMT, after hitting a record high of $2,905.98 earlier in the session – its seventh record this year.

U.S. gold futures rose 1.5% to $2,929.70.

“The precious metal is set to retain its upward bias, as long as President Trump’s policy threats continue to stoke fear and uncertainty through global financial markets,” said Exinity Group chief market analyst Han Tan.

Trump announced on Sunday plans to impose an additional 25% tariff on all steel and aluminium imports. He also said he will announce reciprocal tariffs this week, matching rates imposed by other countries and applying them immediately.

This week, investors will also focus on the U.S. Consumer Price Index (CPI) and Producer Price Index (PPI) data, due later in the week, which could provide insight into the U.S. interest rate trajectory.

Gold is considered a safe investment during economic and geopolitical turmoil, but higher interest rates reduce the non-yielding asset’s appeal.

“Should the incoming U.S. CPI produce a hotter-than-expected print, further delaying the next Fed rate cut, that could prompt some immediate profit-taking in spot gold,” Exinity Group’s Tan said.

In an era marked by geopolitical tensions, trade wars, and economic uncertainty, investors are increasingly turning to gold as a safe haven asset.

The yellow metal has long been considered a reliable store of value, and current global conditions make it an even more attractive investment. From escalating wars to tariff disputes and fluctuating markets, gold stands out as a strategic hedge against instability.