Gold prices surged to an all-time high in Pakistan on Thursday, mirroring gains in international markets as investors sought refuge in safe-haven assets amid escalating global trade tensions.
The price of gold rose by Rs7,800 per tola to Rs328,800, while the 10-gram rate climbed Rs6,688 to Rs281,893, according to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA).
The jump followed a Rs3,000 per tola increase on Wednesday, when domestic prices touched Rs321,000.
International spot gold rose more than 1% to $3,118 per ounce, including a $20 premium, marking a $78 increase on the day, APGJSA data showed.
Silver also tracked the uptrend, gaining Rs64 to reach Rs3,234 per tola.
The rally in bullion was fueled by heightened demand after the United States raised tariffs on Chinese imports, intensifying trade tensions despite a 90-day tariff reprieve for other countries.
Gold, widely seen as a hedge against geopolitical and economic uncertainty, has gained over 18% so far in 2025. The rally has been supported by expectations of US Federal Reserve rate cuts, strong central bank purchases, geopolitical unrest in the Middle East and Ukraine, and inflows into gold-backed exchange-traded funds.
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