Gold prices in Pakistan reached an all-time high of Rs277,200 per tola on Wednesday, rebounding sharply after a Rs700 decline the day before. This surge followed a rise in international gold prices, driven by easing US Treasury yields and anticipation of key US economic data. The global gold rate climbed to $2,675 per ounce, contributing to the upward trend in the local market.
In addition to per tola prices, the cost of 10 grams of gold also increased significantly, reaching Rs237,654. Despite this sharp rise, silver prices remained stable at Rs3,050 per tola.
The domestic gold market has closely followed global trends, with investors eyeing potential interest rate cuts by the US Federal Reserve. Market speculation of a 25 basis-point cut in November has bolstered gold’s appeal as a safe-haven asset, pushing prices higher both internationally and in Pakistan. As economic uncertainties persist, gold remains a popular choice for investors seeking stability.
