Gold prices see major increase in Pakistan
- By Web Desk -
- Feb 04, 2025
ISLAMABAD: Gold prices saw an increase as the price of 24 karat per tola gold rose by Rs.1900 and was sold at Rs 294,300 on Tuesday, February 4, 2025 compared to Rs 292,400 on the previous trading day, according to All Sindh Sarafa Jewellers Association.
The price of 10 grams of 24 karat gold also increased by Rs.1629 to Rs.252,314 from Rs.250,685, while the price of 10 grams of 22 karat gold went up to Rs.231,296 from Rs.229,802.
Additionally, silver prices also saw a rise, with the price of per tola silver increasing by Rs.49 to Rs 3,314 from Rs 3,265.
The price of gold in the international market also increased by $16, reaching $2,815 from $2,799, the Association reported.
Read More: Gold rates reach all time high in Pakistan
Similarly on January 30, gold prices in Pakistan hit a record high as the price of per tola reached to 2,90,300.
The rate of 24 karat per tola gold increased by Rs1600 and was sold at Rs2,90,300, All Sindh Sarafa Jewellers Association reported.
The price of 10 grams of 24 karat gold also increased by Rs1,372 to Rs 2,48,885. Silver rates also increased by Rs59 to Rs3,450 per tola.
However, in the international market, Safe-haven gold prices rose on Thursday as investors worried about potential import tariffs from U.S. President Donald Trump, while investors awaited a key inflation report to gauge the Federal Reserve’s policy path.
Spot gold was up 0.7% at $2,776.79 per ounce, as of 1020 GMT. U.S. gold futures climbed 0.8% to $2,791.70.
“Despite the fact that tariffs on gold in the States are extremely unlikely given that it is a reserve asset, risk managers are taking no chances and moving metal into the States,” said StoneX analyst Rhona O’Connell.
“The element that is most affected by this is the exchange of futures for physical (EFP), but it is undoubtedly contributing to support in spot.”
London bullion market players are racing to borrow gold from central banks, which store bullion in London, following a surge in gold deliveries to the U.S., two sources familiar with the matter said.
Even though Trump did not mention gold in his tariff plans, traders were worried about possible risks, leading to more gold being sent to New York.