Gold and silver prices remained unchanged on Wednesday, holding firm at historic highs both in global and domestic markets. The pause comes after six consecutive sessions of gains, which pushed the metals to record levels.
According to the All Pakistan Sarafa Gems and Jewellers Association (APSGJA), the price of 24-karat gold stood at Rs388,100 per tola and Rs332,733 per 10 grams, unchanged from Tuesday’s record peaks. Similarly, silver remained stable, with prices at Rs4,358 per tola and Rs3,736 per 10 grams.
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In the international bullion market, gold steadied at $3,654 per ounce after a sustained rally. Analysts note that expectations of a possible US Federal Reserve interest rate cut in September have weakened the dollar and Treasury yields, creating favourable conditions for gold.
Tuesday’s surge of Rs4,100 per tola had taken gold to its highest-ever level in Pakistan. On Monday, the yellow metal had already jumped Rs6,100 in a single day, setting a then-record at Rs384,000.
Experts believe the current rally is being driven by both international monetary expectations and rising local demand. With the rupee under pressure and inflation concerns persisting, many investors and households are turning to gold as a safe-haven asset.
