ISLAMABAD, Jan 26 (ABC): Gold prices in Pakistan climbed to a new all-time high on Monday, mirroring a strong rally in the international market where bullion crossed $5,000 per ounce for the first time.
According to the All Pakistan Sarafa Gems and Jewellers Association (APSGJA), the price of 24-karat gold increased by Rs10,900 per tola to reach Rs532,062.
The price of 10 grams of 24-karat gold also rose sharply by Rs9,345 to settle at Rs456,157. Meanwhile, the price of 10 grams of 22-karat gold increased by Rs8,567 to reach Rs418,159.
International gold market
In the global market, gold prices rose by $109 per ounce to close at $5,097. The rise reflects strong investor demand for safe-haven assets amid economic uncertainty and changing currency trends.
Market participants said investors continued to move towards precious metals as global risks remained elevated.
Silver prices also rise
Silver prices in Pakistan followed the upward trend. The price of 24-karat silver increased by Rs627 per tola to reach a record Rs11,428.
Similarly, the price of 10 grams of 24-karat silver rose by Rs537 to Rs9,797.
Drivers behind price surge
Traders said gold and silver prices remained high due to continued purchases by central banks in several countries. Ongoing geopolitical tensions have also supported demand for precious metals.
The sustained rise has pushed gold and silver to their highest levels in both domestic and international markets, affecting jewellery demand while benefiting investors holding bullion.