Gold prices surge by Rs4,800 per tola, crosses Rs306,000 mark 

KARACHI: Gold prices in Pakistan hit a new all-time high as the per tola rate jumped by Rs4,800, reaching Rs306,300 in the local bullion markets. 

According to the All Pakistan Sarafa Gems and Jewellers Association, the price of 10 grams of gold also saw a sharp increase of Rs4,115, settling at Rs262,602. 

The surge in local gold prices follows a $47 jump in the international market, where gold is now trading at $2,916 per ounce. 

On Monday, gold prices surged by Rs1,500, bringing the per tola rate to Rs301,500. 

With today’s increase, gold has now risen by a total of Rs6,300 per tola in just two days. Market sources attribute this sharp rise to global price fluctuations, impacting local rates significantly.

Bulls rebound at PSE as inflation hits a decade-low

However, experts expect a slight dip in gold prices on Wednesday as they dip in the international markets, which brace for Trump’s tariffs.

Globally, gold prices edged down on Tuesday as market participants exercised caution and braced for US President Donald Trump’s tariffs on Canada, Mexico, and China to go into effect within hours.

Spot gold edged down 0.3 per cent to $2,885.40 an ounce, as of 0300 GMT. US gold futures eased 0.2 per cent to $2,895.40.

“This pull back is part of a broader shake-out in markets that could drive prices into the $2,700s before the primary uptrend continues,” Capital.com’s financial market analyst Kyle Rodda said.

It’s a modest move down so far on Tuesday, Rodda said, adding that the clear deterioration in global trade relations and the weaker dollar on fears of a sudden slow down in US growth had given the market a solid boost overnight.

JPMorgan said they hold a long-term structural bullish view for gold with price target of close to $3,000/oz in the fourth quarter of 2025.

Spot silver fell 0.6 per cent to $31.5 an ounce, platinum lost 0.3 per cent to $950.63, and palladium slipped 1.1 per cent to $927.46.