Gold prices have seen a major increase in the domestic market, as gold hits record at an all-time high of Rs336,800 per tola. This marks the biggest single-day rise in months. The rise is linked to a “sharp rally” in international markets, with global events strongly influencing the value of gold.
Amid the ongoing US-China trade war, investors are turning to gold as a safe place to invest. China has recently announced a massive 84% tariff on all US imports. In response, the US has increased its tariffs on Chinese goods to a total of 145%. Analysts believe that these actions will not benefit either country and are only adding to global financial tension.
As a result of the trade war, stock markets around the world have dropped, and investor confidence has weakened. This uncertainty has pushed more people toward investing in gold, raising its demand and value globally.
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Experts have noted that recent changes in global gold prices are not normal. They’ve gone well beyond the usual $20 to $30 changes. In Pakistan, local gold rates have jumped by Rs16,000 per tola in two stages. According to the All Pakistan Sarafa Gems and Jewellers Association (APSGJA), the first increase was Rs7,800, followed by another hike of Rs8,000.
Based on reliable data, gold prices have risen by $594.29 per troy ounce since the beginning of 2025. This is a 22.65% increase. One troy ounce equals about 2.44 tolas. Currently, the international price of gold stands around $3,213 per troy ounce.
Many market watchers believe gold prices could keep rising if the US and China fail to resolve their conflict. If their relations improve, investors might start moving their money back into the stock market.
The high prices have also affected gold demand locally. With the wedding season coming up, many people are unable to afford jewelry. Smaller jewelry shops have seen fewer customers and are suffering losses as gold becomes too expensive for most buyers.
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