Gold prices in Pakistan rose on Monday, mirroring gains in the international market, while silver surged to an unprecedented level. In the local market, the price of gold per tola climbed by Rs2,600 to reach Rs454,862.
Ten-gram gold also gained Rs2,229, closing at Rs389,970, according to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA).
The increase comes after gold had dipped on Saturday, with the price per tola falling by Rs2,000 to Rs452,262. Analysts attributed Monday’s gains to rising global rates and continued demand from investors seeking safe-haven assets.
Silver also set a new record, rising Rs68 to Rs6,532 per tola.
Global market trends
Internationally, gold climbed 1 percent on Monday, approaching a seven-week high. The precious metal benefited from a weaker dollar, expectations of future interest rate cuts, and ongoing geopolitical concerns that have driven investors towards safer assets. Spot gold reached $4,343.96 an ounce by 0949 GMT, while U.S. gold futures rose 1.2 percent to $4,377.80 an ounce.
“The stronger demand from investors, continued central bank purchases over the past three months, and expectations of even lower rates in 2026 are all supporting gold,” said UBS analyst Giovanni Staunovo.
The U.S. Federal Reserve recently cut interest rates by 25 basis points, leaving future easing dependent on labour market conditions and inflation trends. Non-yielding assets such as gold typically benefit when interest rates are low. Investors are now watching closely for the upcoming U.S. non-farm payrolls report, which could influence the pace of future rate cuts.
