Local gold and silver markets surge sharply in line with international gains, triggering renewed investor attention
Introduction
Gold prices in Pakistan experienced a massive surge on Monday, reflecting strong gains in the international market. Investors and traders saw a significant jump in prices, renewing interest in precious metals as a safe-haven investment.
Silver, meanwhile, also climbed to unprecedented levels, reaching an all-time high in Pakistan, signaling rising demand and market speculation.
Gold Prices Soar in Local Market
According to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), the price of gold per tola rose to Rs. 464,762, gaining Rs. 9,200 in a single day.
Similarly, 10-gram gold was sold at Rs. 398,458, marking an increase of Rs. 7,888. For context, gold had fallen to Rs. 455,562 per tola on Saturday following a minor decline of Rs. 4,700.
The sudden spike has investors on high alert, as demand for gold continues to rise amid global economic uncertainty.
Silver Reaches Record Levels
Silver prices also surged, increasing by Rs. 267 to reach Rs. 8,023 per tola, a new all-time high in Pakistan.
Analysts say the rise in silver is driven by a combination of global demand, industrial use, and local investor interest. Silver, long considered a secondary safe-haven asset, has attracted growing attention from traders seeking alternatives to gold and cash.
International Trends Fuel Local Market Gains
The international gold rate rose by $92 per ounce, reaching $4,424. Local prices reflect a $20 premium for transport and handling.
Pakistan’s gold market closely mirrors international trends. Currency fluctuations, inflation fears, and global uncertainty have all contributed to the rapid rise in local prices.
Analysis: What’s Driving the Surge
Experts suggest several factors behind the record-breaking prices:
- Economic uncertainty: Investors flock to precious metals to protect wealth.
- Currency depreciation: Fluctuations in the Pakistani rupee push gold prices higher.
- Increased demand for silver: Industrial demand and market speculation fuel rapid price increases.
Market watchers predict continued high interest in gold and silver until economic stability returns. For many, metals remain a safer investment compared to volatile stock or currency markets.