Gold prices in Pakistan surged to an all-time high on Monday amid strong international momentum.
At the same time, silver prices also climbed to unprecedented levels in the domestic market. The rally followed sharp gains in global bullion markets. Moreover, investor demand strengthened due to economic uncertainty and rate cut expectations. As a result, precious metals dominated market discussions nationwide.
Gold Prices Break Records Locally
In the local bullion market, gold prices jumped sharply during Monday’s trading session. The price of gold rose by Rs6,200 to reach Rs462,362 per tola. This increase marked the highest level ever recorded in Pakistan.
Traders attributed the surge to strong global cues and currency pressures. Consequently, buyers and investors closely monitored market movements.
Meanwhile, the price of 10-gram gold also registered a notable increase. It climbed by Rs5,315 to settle at Rs396,400. The All-Pakistan Gems and Jewellers Sarafa Association released the updated figures.
According to traders, demand remained firm despite higher prices. Therefore, market sentiment stayed largely bullish throughout the session.
Previous Session Performance
Gold had already shown strength in the previous trading session. On Saturday, the metal closed at Rs456,162 per tola. It had gained Rs1,300 during that session. The continued upward trend signaled sustained investor confidence. Thus, Monday’s surge extended an already strong rally.
International Gold Markets Rally
Globally, gold prices surged past a historic milestone on Monday. International gold crossed the $4,400-per-ounce mark for the first time. The rally reflected expectations of further US interest rate cuts.
Additionally, safe-haven demand increased amid global economic uncertainty. These factors combined to support higher bullion prices worldwide.
The international gold rate stood at $4,400 per ounce. This figure included a premium of $20. Spot gold rose 1.7 percent to $4,411.01 per ounce by 0822 GMT. Earlier in the session, prices touched a record $4,420.01.
US gold futures for February delivery also strengthened during trading.
US Futures and Investor Sentiment
US gold futures rose 1.3 percent to $4,444.00 per ounce. Analysts linked the gains to dovish expectations from the Federal Reserve. Moreover, geopolitical tensions continued to fuel safe-haven buying. As a result, investors shifted funds toward precious metals. This trend reinforced bullish sentiment across global markets.
Silver Joins the Rally
Silver prices also followed gold’s upward trajectory. In Pakistan, silver prices increased significantly on Monday.
The metal gained Rs218 to reach Rs7,205 per tola. This level marked the highest silver price recorded domestically. Traders reported strong interest from both investors and industrial buyers.
Globally, silver also touched new records during the session. Spot silver climbed 2.5 percent to $69.44 per ounce.
The surge reflected strong demand and limited supply conditions. Furthermore, silver benefited from gold’s broader market momentum. Consequently, both metals moved in tandem across markets.
Market Outlook
Analysts expect volatility to remain high in coming sessions. Global economic signals will likely guide future price movements. Meanwhile, local prices may continue tracking international trends closely. Investors remain cautious but optimistic amid ongoing uncertainty. Therefore, precious metals may retain their appeal in the near term.
