Gold prices in Pakistan saw a significant rebound on Monday, rising by Rs4,000 per tola to reach a new all-time high of Rs303,000. This increase mirrored the global trend, with international gold prices also climbing. In the local market, the price of 10 grams of gold surged by Rs3,429, settling at Rs259,773, according to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA).
Globally, gold prices strengthened on Monday, nearing the record high set in the previous session, as investors flocked to the precious metal amid rising fears of a global trade war. This followed US President Donald Trump’s announcement of new 25% tariffs on steel and aluminum imports, adding to existing duties and escalating his trade policy stance. Trump also revealed plans to impose reciprocal tariffs on numerous countries soon.
Gold is often seen as a safe haven during economic uncertainty, but higher interest rates can reduce its appeal. On Monday, the international price of gold reached a record $2,903 per ounce, up by $42 from the previous day, with a premium of $20.
In contrast, the price of silver also saw an increase, rising by Rs43 to reach Rs3,373 per tola.
