KARACHI: Gold and silver prices have surged to unprecedented levels in both international and local markets, setting new historical records and triggering fresh concern among investors, traders, and policymakers.
The sharp rise indicates growing global uncertainty, fueled by geopolitical tensions, shifting monetary expectations, and mounting fears of instability in the Middle East.
The prices of precious metals have been climbing steadily amid reports of escalating geopolitical pressure surrounding Iran, where speculation over potential leadership change has intensified.
The situation has been further complicated by signals from the United States Federal Reserve suggesting the possibility of additional cuts in interest rates, a move that traditionally strengthens demand for safe-haven assets such as gold and silver.
The gold prices recorded a dramatic jump of $75 per ounce, reaching a historic high of $4,670 per ounce. Furthermore, the impact of the international rally was immediately felt in Pakistan’s local markets.
The price of gold per tola rose sharply by Rs7,500, reaching an all-time high of Rs489,362. Similarly, the price of 10 grams of gold increased by Rs6,431 to settle at Rs419,549, underscoring the strong transmission of global trends into domestic pricing.
In this sense, Silver prices also mirrored the upward momentum. In the local market, the price of silver per tola climbed by Rs300 to reach a new peak of Rs9,782, while the price of 10 grams of silver increased by Rs257 to Rs8,386.
However, despite the historic surge, analysts caution that the market may not have revealed its full direction yet.
With geopolitical developments evolving rapidly and key policy decisions still looming, questions remain about whether prices have reached their peak or if another dramatic move is just ahead.
