Gold price surges by Rs8,400 per tola in Pakistan amid global rally

Gold prices in Pakistan continued their upward streak on Wednesday, rising by Rs8,400 per tola amid a sharp rally in the international market, according to data released by the All Pakistan Sarafa Gems and Jewellers Association (APSGJA).

Following the latest increase, the price of one tola of gold reached Rs425,178, while the rate for 10 grams climbed by Rs7,202 to Rs364,521.

The surge mirrors a major spike in the global bullion market, where gold prices rose by $84 to hit $4,039 per ounce — crossing the $4,000 mark for the first time in history.

Market experts attribute the increase to mounting global economic uncertainty, a weakening dollar, and renewed investor demand for safe-haven assets. They said that ongoing geopolitical tensions and fears of slower global growth have also contributed to the record-breaking rally.

Jewellers in Pakistan noted that domestic prices are closely following international trends, with local volatility further influenced by fluctuations in the rupee’s value against the US dollar.

In recent sessions, gold has been gaining steadily, with analysts predicting continued price hikes if global trends remain bullish.