Gold price hits fresh all-time high in Pakistan

Gold prices surged to historic highs both globally and in Pakistan on Monday, driven by rising economic uncertainty, sustained central bank gold purchases, and fears of deepening stagflation.

In the international bullion market, the price of gold per ounce jumped by $69, reaching a record $3,395, as geopolitical and financial instability prompted investors and institutions to seek safety in precious metals.

According to local dealers, the impact of the global surge was immediately felt in Pakistan's bullion markets.

The price of 24-karat gold per tola in the local market rose sharply by Rs8,100, reaching a new all-time high of Rs357,800. Similarly, 10 grams of 24-karat gold saw an increase of Rs6,944, climbing to Rs306,755.

Additionally, silver prices also moved upward. Per tola silver increased by Rs24 to reach Rs 3,441, while 10 grams of silver rose by Rs21, now priced at Rs2,950.

Meanwhile, spot gold was up 1.7% at $3,385.28 an ounce at 0815 GMT. Bullion rose 2% earlier in the session to a record high of $3,395.95.

US gold futures rose 2.1% to $3,396.60.

US President Donald Trump's broad tariffs and the uncertainty surrounding his trade policies have roiled global markets and clouded the economic outlook for the world's largest economy, prompting investors to withdraw from US assets.

Spot silver added 0.5% to $32.74 an ounce, platinum gained 0.4% to $971.10, while palladium fell 0.3% to $958.93.