Gold prices soared to unprecedented levels on Monday, both globally and within Pakistan, as a wave of economic uncertainty and stagflation concerns swept across financial markets. Investors around the world are rushing toward the age-old safe haven: gold.
In the international bullion market, gold leapt by $69 per ounce to reach an all-time high of $3,395. This surge reflects escalating geopolitical tensions, volatile trade policies, and persistent inflation concerns, prompting investors and central banks alike to increase their gold holdings.
Back home, the effects were immediate and striking. According to local dealers, 24-karat gold per tola in Pakistan jumped by Rs 8,100, hitting a new record of Rs 357,800. Meanwhile, 10 grams of 24-karat gold surged by Rs 6,944 to Rs 306,755.
Silver followed suit. Per tola silver rose Rs 24 to Rs 3,441, and 10 grams of silver climbed Rs 21 to Rs 2,950.
As of 0815 GMT, spot gold was up 1.7% at $3,385.28 an ounce, after peaking at $3,395.95 earlier in the session. Meanwhile, US gold futures rose 2.1% to $3,396.60.
Multiple global factors have fueled this rally. Among them is the continued shift by central banks away from dollar-based assets, as well as ongoing geopolitical tensions between the US and China. Former US President Donald Trump’s sweeping tariff policies and uncertainty around international trade deals have made gold even more attractive.
China, in particular, has warned other nations about aligning too closely with US economic strategies, further amplifying global risk perceptions.
In the broader precious metals market:
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Spot silver gained 0.5% to $32.74 an ounce
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Platinum increased 0.4% to $971.10
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Palladium dipped 0.3% to $958.93
With inflation fears and global instability mounting, analysts suggest gold could remain bullish for the foreseeable future. For Pakistani investors, this means higher prices—but also a potential hedge against uncertain economic times ahead.
