Gold Prices Hit New Historical Peak for Third Day in a Row

Gold and silver prices surged sharply in both international and domestic markets on Thursday, reaching historic highs for the second consecutive day. According to local bullion market sources, the international gold price climbed by $212 per ounce to $5,504, setting a new record.

In Pakistan’s domestic market, the price of gold per tola increased by Rs21,200 to Rs572,862, marking the highest level in the country’s history. The price of 10 grams of gold also rose by Rs18,175 to Rs491,136.

Silver prices saw gains as well; the price per tola climbed by Rs264 to Rs12,175, while the price per 10 grams increased by Rs227 to Rs10,438.

On Wednesday, gold prices in Pakistan had already surged to an all-time high, crossing Rs551,500 per tola. This sharp rise was driven by economic uncertainty, a weakening US dollar, and investor concerns over the independence of the Federal Reserve ahead of its policy announcement. In the local market, gold per tola increased by Rs21,100 to Rs551,662, while 10-gram gold rose by Rs18,090 to Rs472,961. The increase came after Tuesday’s session when gold per tola had fallen by Rs1,500 to Rs530,562.

Silver also hit a new record in the domestic market, with prices per tola rising Rs271 to Rs11,911.

Internationally, gold reached an unprecedented $5,311.31 per ounce, trading 1.7% higher at $5,278.28 per ounce by 1605 GMT. This marked the second consecutive day of gains after a session where gold prices had risen more than 3%. Investors continued to flock to safe-haven assets amid rising macroeconomic and geopolitical risks.