Gold prices hit record high in Pakistan amid global price rally

KARACHI: Gold prices in Pakistan jumped sharply on Wednesday, with the rate for 24-carat bullion climbing above Rs500,000 per tola as global and local markets rallied, dealers and analysts said.

In the international bullion market, the price of gold surged by about $157 per ounce to around $4,814, fuelling gains in domestic markets, according to jewellers.

Driven by the global upswing, the local price of 24-carat gold rose by roughly Rs15,700 to about Rs504,162 per tola, dealers said, marking a fresh peak in recent trading. Silver also edged higher in Pakistan’s markets.

The sudden rise in prices reflects renewed investor interest in safe-haven assets amid ongoing geopolitical uncertainty, even as some recent volatility has seen prices fluctuate sharply.

Gold rates have been volatile in recent weeks, with prices recently dipping before rebounding as global demand and market sentiment shifted.

Analysts said the latest surge underscores how closely Pakistan’s bullion market tracks international trends, with traders adjusting local rates in response to shifts in the global gold price.

Gold is widely seen by investors as a hedge against economic uncertainty, and prices have remained elevated in Pakistan as global markets have experienced heightened volatility.