Islamabad, Apr 11, 2025: Gold prices in Pakistan soared on Thursday, recording the largest single-day rise in recent times, driven by international market trends and economic uncertainty.
The local bullion market witnessed an unprecedented hike of around Rs16,000 per tola, reflecting the sharp uptrend in global gold values.
As per the All-Pakistan Sarafa Gems and Jewellers Association (APSGJA), the rate of gold initially climbed by Rs7,800 per tola, touching Rs328,800.
However, as trading intensified, another spike of Rs8,000 pushed the rate further to Rs336,800 per tola, confirmed Muhammad Qasim Shikarpuri, the association’s president.
Globally, gold remained strong, reaching $3,118 per ounce, including a $20 premium, marking a gain of $78 in a single day.
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“This Rs7,800 surge is the highest we’ve seen since before Ramazan,” stated Shikarpuri.
The price hike is largely attributed to increasing tensions between the United States and China, as both nations continue to exchange trade restrictions.
China recently imposed a hefty 84% tariff, which led to the U.S. countering with an even steeper 145% tariff on Chinese imports.
“This intensifying trade conflict is pushing gold values higher, and there’s a strong possibility it might climb further,” he remarked.
Shikarpuri also highlighted the exceptional market volatility, pointing out, “A $200 fluctuation in gold prices is something I’ve never experienced before. Usually, the corrections are between $20 and $40.”
As geopolitical instability continues to influence investor sentiment, gold is being favored as a safe investment option, while silver remains mostly unaffected despite its high industrial demand.
“Silver hasn’t shown much price action lately. Investors clearly see gold as the go-to asset during global uncertainty,” he added.
On the economic front, State Bank of Pakistan (SBP) reported a $23 million increase in foreign exchange reserves, now totaling $10.7 billion for the week ending April 4, 2025.
The country’s overall liquid reserves stand at $15.7 billion, including $5.1 billion held by commercial banks.
Meanwhile, the Pakistani rupee gained slightly against the U.S. dollar, appreciating by 0.08%.
The currency closed at Rs280.56, marking a small rise of Rs0.22 from the previous day’s rate of Rs280.78.
