Gold prices in Pakistan rose sharply on Monday, tracking gains in the international market after a turbulent weekend in global politics.
In the local market, the price of gold climbed by Rs9,200 to reach Rs464,762 per tola. The rise marked a clear turnaround after a weak performance last week, when prices fell for five straight sessions. By Saturday, gold had closed at Rs455,562 per tola, down Rs4,700 over the week.
The price of 10-gram gold also moved higher. It was sold at Rs398,458 after an increase of Rs7,888, according to rates issued by the All-Pakistan Gems and Jewellers Sarafa Association.
Silver followed the same upward path. Its price rose by Rs267 to Rs8,023 per tola, setting a new all-time high in the local market.
Global factors drive prices higher
Internationally, gold prices surged as investors rushed towards safe assets amid rising geopolitical tension. Spot gold was trading at $4,424.17 per ounce by 0742 GMT, up 2.2 percent on the day and touching a one-week high. US gold futures for February delivery gained 2.4 percent to $4,434.20 per ounce.
The rally came after the United States captured Venezuelan President Nicolas Maduro over the weekend, an event that sent shockwaves through global markets. The move was widely seen as one of Washington’s most controversial actions in Latin America in decades.
Market analysts said the development had increased uncertainty, pushing investors towards gold and other precious metals. Tim Waterer, chief market analyst at KCM Trade, said such events tend to raise instability, making gold and silver attractive as protection against risk.
Following the operation, Venezuela’s Vice President Delcy Rodriguez assumed the role of interim leader, while maintaining that Maduro remains president.
Gold has already enjoyed a strong run over the past year. Prices gained 64 percent in 2025, marking the metal’s biggest annual rise since 1979. Support has come from interest rate cuts, strong buying by central banks and increased inflows into exchange-traded funds.
Gold touched a record high of $4,549.71 per ounce on December 26, 2025. However, some caution remains. Philadelphia Federal Reserve President Anna Paulson said at the weekend that further interest rate cuts may not come soon, following an aggressive easing cycle last year.
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