Gold prices have surged to historic levels, reaching new highs in both local and international markets. The rise is driven by global economic uncertainty and upcoming US trade policies, making gold a preferred safe-haven asset.
Gold Prices Break Records Worldwide
On Saturday, the price of gold per ounce in the international market increased by $10, bringing it to $3,084—the highest ever recorded. This jump reflects strong demand for gold amid growing concerns about the global economy.
Meanwhile, in Pakistan, gold prices soared to unprecedented levels. The price of 24-carat gold per tola rose by Rs 1,620, reaching an all-time high of Rs 325,000. Similarly, the price of gold per 10 grams increased by Rs 1,389, hitting Rs 278,635.
Silver Prices Drop Despite Gold’s Rise
While gold prices continue to climb, silver prices saw a decline. The price of silver per tola fell by Rs 30, settling at Rs 3,580. Similarly, the price per 10 grams dropped by Rs 27, reaching Rs 3,069.
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Gold Market Trends and Volatility
A day earlier, gold prices in Pakistan had already reached Rs 323,380 per tola, marking a sharp single-day rise of Rs 2,380. In global markets, gold had surged to $3,074 per ounce, including a $20 premium, reflecting a $22 increase for the day.
According to Adnan Agar, Director of Interactive Commodities, gold reached a historic $3,086 per ounce on Friday, with the lowest level recorded at $3,054 before settling at $3,072. He described the market as strong but highly volatile, with further fluctuations expected in the coming weeks.
Key Economic Factors Driving Gold Prices
Experts point to two major global events impacting gold prices. First, the upcoming US employment data will provide insights into the strength of the American economy, influencing investor confidence. Second, the April 2 tariff deadline set by US President Donald Trump is adding uncertainty to global trade, potentially triggering retaliatory measures from other countries.
Agar noted that while a correction in gold prices is anticipated, the exact timing remains uncertain. Investors remain cautious, closely monitoring market trends before making major financial decisions.
What’s Next for the Gold Market?
As economic instability continues, gold is expected to remain a strong investment choice. However, the market’s high volatility suggests that price corrections could occur in the near future. Investors and traders will be watching global economic developments, including US trade policies and interest rate changes, to gauge future price movements.
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