KARACHI: Local and international gold prices soared to fresh historic peak on Friday due to “Trump’s trade war and huge buying in the US”, traders said.
Gold gained Rs4,700 and Rs4,030, hitting new record highs of Rs314,000 per tola and Rs269,204 per 10 grams, respectively, according to All Pakistan Sarafa Gems and Jewellers Association.
International market posted an upsurge by $46, driving gold bullion value to new height of $2,988 per ounce, while silver was trading at $34 per ounce.
Domestic silver prices surged by Rs90 and Rs77, reaching Rs3,530 per tola and Rs3,026 per 10 grams, respectively, the association added with its President, Muhammad Qasim Shikarpuri anticipating further robust momentum in world market.
He sees gold prices continue to rise after the US President Donald Trump’s remarks on increasing bullion reserves has triggered the commodity’s buying, resulting in its value surge. Besides, he holds “unpromising talks” on Ukraine war between the US and Russia, leading to market volatility.
Open market may trade gold and silver at different prices comparing to those fixed by the association.
Copyright Business Recorder, 2025
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