KARACHI: Precious metal prices surged to unprecedented levels on Friday, with both gold and silver reaching historic highs in international and domestic markets.
In the global bullion market, gold prices jumped sharply by $91 per ounce, hitting a new peak of $4,923 per ounce. The strong international trend directly influenced the local market, where gold prices soared.
In Pakistan, gold per tola increased by Rs9,100, reaching an all-time high of Rs514,662 per tola. Similarly, the price of 10 grams of gold climbed by Rs7,802, settling at Rs441,239.
Silver prices also saw significant gains. The price of silver per tola rose by Rs372, reaching a record Rs10,275 per tola, while 10 grams of silver increased by Rs319 to Rs8,809.
Market analysts link the sharp rise in precious metal prices to global economic uncertainty and a growing demand for safe-haven assets among investors.