Gold prices continued their sharp upward trend across Pakistan today, indicating sustained gains in the international bullion market. In this regard, a significant increase was recorded in both gold and silver prices, further intensifying concerns among consumers and investors amid ongoing global economic uncertainty.
Furthermore, the price of gold per tola in Pakistan rose by Rs3,700, reaching a historic level of Rs473,262.
Similarly, the price of 10 grams of gold increased by Rs3,172, taking it to Rs405,745. The latest surge follows developments in global markets, where gold prices have remained under strong upward pressure.
The price of gold per ounce climbed by $37 to reach $4,509, marking one of the highest levels recorded in recent history. So far, the silver prices in Pakistan also moved upward alongside gold. The price of silver per tola increased by Rs270, bringing it to Rs8,465.
Moreover, market experts cite several reasons behind the persistent surge in gold prices. These include the weakening of the US dollar, large-scale gold purchases by central banks worldwide, geopolitical instability, and partial government shutdowns in the United States.
In addition, the freezing of Russian assets following Moscow’s invasion of Ukraine has prompted many countries to reduce reliance on foreign reserves and shift toward gold holdings.
The central banks have increasingly turned to gold as a secure reserve asset in response to global economic risks. Data from the World Gold Council shows that central banks collectively purchased more than 1,000 metric tons of gold in 2024, nearly double the average annual purchases recorded over the past decade.
The United States holds the largest reserves worldwide, followed by Germany and Italy. In Asia, China leads the region in gold holdings, while India ranks second in Asia and eighth globally. Pakistan stands at 49th position in the global ranking of gold reserves.
