Gold and silver prices hit record highs in Pakistan

Gold and silver prices surged to unprecedented levels in Pakistan on Friday, continuing a strong upward trend in the local bullion market.

According to figures released by the All Pakistan Sarafa Gems and Jewellers Association (APSGJA), the price of 24-karat gold rose by Rs500 to reach a new record of Rs473,362 per tola.

Prices increased across all major gold categories. The rate for 24-karat gold per 10 grams climbed to Rs405,831, while 22-karat gold per 10 grams was priced at Rs372,025. In the international market, gold was trading at around $4,510 per ounce, showing a modest rise.

Silver also posted sharp gains, marking an all-time high in the domestic market. The price of 24-karat silver increased by Rs240 to Rs7,945 per tola, while 10 grams of silver rose to Rs6,811. Globally, silver jumped to $74.70 per ounce, up $2.40.

Market analysts say the surge is being driven by a mix of global and local factors. Internationally, precious metals have benefited from year-end buying, rising geopolitical tensions, and expectations of further US interest rate cuts, which tend to boost demand for non-yielding assets such as gold and silver.

Domestically, strong demand linked to Pakistan’s ongoing wedding season has added further pressure on prices, despite already record-high levels.

Analysts warn that volatility may continue in the coming days as global economic signals and investor sentiment remain uncertain.