Gold prices in Pakistan surged to an all-time high on Wednesday, reflecting the sharp rise in international markets where weaker US employment data strengthened expectations of a Federal Reserve interest rate cut this month.
According to the All Pakistan Sarafa Gems and Jewellers Association (APSGJA), the price of gold per tola jumped by Rs6,000, closing at a historic level of Rs376,700. Similarly, the price of 10 grams rose by Rs5,144, reaching a record Rs322,959. Just a day earlier, gold prices had remained stable at Rs370,700 per tola.
Globally, spot gold gained 0.9% to trade at $3,562.80 per ounce after touching an all-time high of $3,565.57. Analysts suggest that the rally is driven by strong safe-haven demand amid economic and geopolitical uncertainties, although a short-term correction is possible if upcoming US economic data dampens expectations of a rate cut.
Market expert Adnan Agar noted that gold’s rally, while strong, seems “overstretched.” He predicted the metal could correct after testing resistance around $3,580–$3,600, potentially retreating towards the $3,460–$3,500 range depending on US data releases later this week.
Meanwhile, the World Gold Council has unveiled a new structure called Pooled Gold Interests, designed to modernize trading by allowing investors to hold fractional ownership of physical gold stored in secure vaults. This innovation aims to simplify gold trading and make it easier to use as collateral in financial transactions.
On the local economic front, the Pakistani rupee recorded its 19th consecutive session of gains, inching up to 281.71 per dollar in the inter-bank market. Since August 6, 2025, the rupee has strengthened by a cumulative 96 paisa against the US dollar.
Additionally, the State Bank of Pakistan (SBP) raised Rs551.97 billion through auctions of government securities, including Pakistan Investment Bonds (10-year floating rate) worth Rs36.74 billion and Market Treasury Bills totaling Rs515.23 billion across three-, six-, and twelve-month tenures.
