Gold Hits All-Time High in Pakistan and Global Market

Gold prices witnessed a dramatic upsurge on Monday, reaching historic peaks both internationally and in Pakistan, as economic uncertainty and aggressive buying by central banks continue to fuel the rally.

According to financial analysts, this surge is largely attributed to persistent global trade tensions involving the United States and a growing reliance on gold as a secure investment. Central banks around the world are reportedly bolstering their gold reserves to diversify holdings and hedge against rising economic instability—further intensifying demand for the precious metal.

The latest development from the US Federal Reserve—choosing to hold interest rates steady—has also sparked renewed fears of prolonged inflation and a stagnant economic outlook. This has led investors to shift their capital into safer assets like gold, amplifying its appeal.

In the global bullion market, the price of gold saw a sharp rise of $59, pushing the spot price to an astounding $3,454 per ounce.

This upward momentum was immediately mirrored in Pakistan’s domestic market. On Monday, the price of 24-karat gold soared by Rs. 5,900 per tola, reaching a record-breaking Rs. 363,700. Similarly, the rate for 10 grams of 24-karat gold surged by Rs. 5,059, settling at a historic high of Rs. 311,814.

Local gold traders are now bracing for further increases should the ongoing geopolitical tensions and economic volatility persist. Meanwhile, consumers—especially those preparing for upcoming weddings or significant gold purchases—are left to bear the brunt of soaring prices.