Gold and Silver Prices Surge in Pakistan. Gold and silver prices in Pakistan surged sharply on Friday, setting new record highs in the local market. The increase followed a strong rally in international precious metal markets, where global uncertainty and rising investor demand pushed prices upward. Despite already being at historic levels, both gold and silver continued their upward momentum, surprising buyers and traders alike.
Gold Price Hits a New All-Time High in Local Market
In the domestic market, the price of gold per tola jumped by Rs. 9,100, reaching a new record of Rs. 514,662. This sudden increase made gold significantly more expensive for jewellery buyers, especially those planning weddings or family events. The sharp rise also slowed down market activity, as many consumers chose to delay purchases in hopes of a future price correction.
10-Gram Gold Price Rises Sharply
At the same time, the price of 10-gram gold also increased strongly. It rose by Rs. 7,802 to settle at Rs. 441,239. These official rates were released by the All-Pakistan Gems and Jewellers Sarafa Association, which provides daily gold pricing across Pakistan. Jewellers rely on these rates to set retail prices nationwide.
Gold Declined a Day Earlier Before Strong Rebound
Interestingly, the latest surge came just a day after gold prices had declined. On Thursday, the price of gold per tola had dropped by Rs. 800 to Rs. 505,562. Many market participants believed this decline signaled a possible cooling trend. However, the international market quickly reversed direction, pushing prices sharply higher once again.
International Gold Market Drives Local Prices
Globally, gold prices climbed by $91 per ounce, reaching $4,923 per ounce, including a premium of $20. This strong rise in international prices played a major role in lifting local rates in Pakistan. Since Pakistan imports gold, any increase in global prices is directly reflected in the domestic market, often within the same trading day.
Silver Prices Reach Historic High in Pakistan
Silver prices in Pakistan also witnessed a major surge and reached a new all-time high. The price of silver per tola increased by Rs. 372 to settle at Rs. 10,275. This marked the highest silver price ever recorded in the country and attracted attention from investors across the market.
Why Silver Prices Are Rising Alongside Gold
The rise in silver prices is driven by both investment demand and industrial use. Silver is widely used in electronics, solar panels, and other industries, which increases its global demand. When gold prices rise sharply, many investors turn to silver as a more affordable alternative, further pushing its price upward.
Impact of Rising Gold and Silver Prices on Consumers
The continuous rise in gold and silver prices has mixed effects on the Pakistani economy. Investors who already hold gold benefit from higher valuations, while new buyers face affordability challenges. Jewellery businesses report slower sales, as customers reduce purchases due to record-high prices. At the same time, uncertainty in global markets continues to support demand for safe assets like gold.
Role of the Pakistani Rupee in Price Increase
Another important factor influencing local gold prices is the Pakistani rupee. When the rupee weakens against the US dollar, imported commodities like gold become more expensive. Even if global prices remain stable, a weaker currency can still cause domestic prices to rise, adding pressure on local buyers.
Market Outlook for Gold and Silver
Looking ahead, market experts believe gold and silver prices may remain volatile. Any new global economic stress, geopolitical tension, or currency instability could push prices even higher. However, short-term corrections are also possible as traders take profits after such a strong rally.
Conclusion
gold and silver prices in Pakistan have reached historic highs due to strong international market trends and local currency pressures. While the surge benefits investors holding precious metals, it creates challenges for consumers and jewellery buyers. Staying informed and tracking market trends remains essential as price movements continue to shape the precious metals market.
