Gold rates in Pakistan hit all-time high

KARACHI: Gold rates surged to a record high on Monday, in Pakistan as well as International markets driven by safe-haven demand.

The price of 24 karat per tola gold increased by Rs1500 and was sold all-time high at Rs 309,500 against its sale at Rs 308,000 on previous trading day, All Pakistan Sarafa Gems and Jewelers Association reported.

The price of 10 grams of 24 karat gold also increased by Rs1286 to Rs 265,346 from Rs 264,060.

Whereas the prices of silver increased by Rs15 to Rs3,395.

The price of gold in the international market increased by $12 to $2,948 from $2,936, the Association reported.

Spot silver eased 0.3% to $32.45 an ounce, platinum shed 0.8% to $961.95 and palladium lost 2.2% to $948.00.

U.S. dollar index touched its lowest level since Dec. 10 earlier in the session, making bullion more affordable for buyers using other currencies.

“Investors believe that in the coming weeks and months or longer than that gold prices are going to continue to appreciate,” said Jim Wyckoff, a senior market analyst at Kitco Metals.

“The path of least resistance for gold remains sideways to higher and as long as uncertainty persists, gold is likely to continue rising.”

U.S. President Donald Trump warned of imminent new tariffs last week. These plans are broadly viewed as inflationary and capable of sparking trade wars, thereby increasing the demand for safe-haven assets like bullion.

SPDR Gold Trust , the world’s largest gold-backed exchange-traded fund, said its holdings rose to 904.38 tonnes on Friday, the highest since August 2023.

Prices holding above $2,950 per ounce are drawing investor focus toward the $3,000 mark, with the metal up more than 12% in 2025.

Investors will watch Friday’s U.S. Personal Consumption Expenditures report, the Fed’s preferred inflation gauge.