KARACHI: Gold and silver prices skyrocketed to record highs in international and local markets on Wednesday, with gold per tola in Pakistan jumping by Rs21,100 to Rs551,662, and 10 grams rising by Rs18,090 to Rs472,961.
Spot gold increased 2.3% to $5,305.65 per ounce, briefly hitting $5,311.31, while US gold futures for February climbed 4.3% to $5,301.90. The US dollar struggled near four-year lows amid confidence issues after comments from President Donald Trump on its value.
Silver also reached new peaks in Pakistan, with per tola prices rising by Rs271 to Rs11,911 and 10 grams up by Rs232 to Rs10,211.
Experts attribute these spikes to global market volatility, inflation concerns, and geopolitical instability, boosting gold’s appeal as a secure investment. While investors see opportunity, the surge has alarmed consumers and jewelers.
