Gold rates surged to a record high on Monday, February 24. This rise occurred in Pakistan and international markets. Safe-haven demand drove the increase. Investors rushed to buy bullion amid global uncertainty.
The price of 24 karat gold per tola jumped by Rs1500. It hit an all-time high of Rs309,500. This is a rise from Rs308,000 on the previous trading day. The All Pakistan Sarafa Gems and Jewelers Association confirmed the figures. In short, gold in Pakistan reached a new peak.
The 10 grams of 24 karat gold also saw a jump. Its price increased by Rs1286. It now stands at Rs265,346 compared to Rs264,060 before. This rise marks a clear trend in domestic bullion prices.
Silver Prices Gain Ground
Silver prices also moved upward. The cost of silver increased by Rs15. It now stands at Rs3,395. Though the increase was modest, it reflects a broader move in precious metals. Investors continue to show interest in silver as well.
In international markets, gold prices climbed. The price of gold increased by $12. It now sits at $2,948, up from $2,936. This boost shows a consistent global demand for gold.
Other precious metals moved in different directions. Spot silver eased by 0.3% to $32.45 an ounce. Platinum shed 0.8% to $961.95. Palladium lost 2.2% to $948.00. These changes highlight a varied market landscape.
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Dollar’s Influence on Bullion
The U.S. dollar index touched its lowest level since December 10. This drop made bullion more affordable for buyers using other currencies. A weaker dollar often drives investors to gold. They see it as a stable store of value.
Market sentiment remains positive. Jim Wyckoff, a senior market analyst at Kitco Metals, commented on the trend. He said investors expect gold prices to keep rising. He noted that uncertainty in the global market fuels safe-haven demand. Wyckoff added that the path for gold remains clear. The metal is set to stay strong as long as uncertainty persists.
Economic and Political Factors
U.S. President Donald Trump recently warned of new tariffs. His warning stirred the market. Many view these plans as inflationary. They fear the tariffs could spark trade wars. Such events push investors toward safe-haven assets like gold.
The SPDR Gold Trust also plays a role. This fund is the world’s largest gold-backed exchange-traded fund. Its holdings increased to 904.38 tonnes on Friday. This level is the highest since August 2023. The trust’s growth mirrors rising investor confidence.
Looking Ahead: The $3,000 Mark
Prices above $2,950 per ounce have drawn significant attention. Investors now focus on the $3,000 mark. The metal has already risen more than 12% in 2025. This has many speculating on future gains. They believe the surge will continue.
Gold rates hit new highs. Both domestic and international prices show a strong upward trend. Short-term gains have raised hopes for a continued rally. Global uncertainties, tariff warnings, and a weak dollar all support this trend. Investors remain bullish on gold. They see it as a safe asset in troubled times. The market now watches keenly as prices edge closer to the $3,000 milestone.
This record surge in gold highlights a dynamic period in the precious metals market. Both buyers and sellers face a changing landscape. The future of gold remains promising.
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