The ongoing tariff war between the United States and China has triggered a surge in gold prices globally, pushing rates in Pakistan to their highest-ever levels, according to figures released by the All Pakistan Sarafa Gems and Jewellers Association on Wednesday.
The price of 24-karat gold per tola rose sharply by Rs8,600, reaching an unprecedented Rs348,000 in the local market. Similarly, the rate for 10 grams of 24-karat gold climbed by Rs7,373 to settle at Rs298,353.
Association President Muhammad Qasim Shikarpuri confirmed that this jump is directly linked to rising international prices, with gold gaining $86 per ounce globally, now quoted at $3,310.
The price of 10 grams of 22-karat gold also witnessed a notable increase, now priced at Rs273,500.
Meanwhile, silver rates saw a modest rise. The price of silver per tola increased by Rs54 to Rs2,966, and 10 grams of silver rose to Rs2,546. On the international front, silver was recorded at $32.98 per ounce, reflecting a $0.63 uptick.
Analysts attribute the record-breaking surge to growing global uncertainty, leading investors to turn to gold as a safe haven asset.
