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Gold prices in Pakistan Today – January 14, 2025 | The Express Tribune
Iran has 15 gold mines, with the largest being the Zarshouran mine located in the country’s northwest. PHOTO: PIXABAY
Global and local gold and silver prices surged to historic highs on Wednesday, driven by strong international bullion market gains.
In the international market, spot gold rose 1% to $4,632.03 per ounce by 0715 GMT after hitting a record high of $4,639.42 earlier in the session. US gold futures for February delivery climbed 0.9% to $4,639.50.
In Pakistan’s local market, the price of gold per tola jumped by Rs4,300 to a record Rs486,162, while the price per 10 grams increased by Rs3,687 to Rs416,805.
Read: Gold prices rise despite global dip
Silver prices also registered sharp gains. Spot silver jumped 3.6% to $90.11 per ounce and has surged nearly 27% so far this year.
Locally, silver per tola rose by Rs500 to a new high of Rs9,575, while the price per 10 grams increased by Rs429 to Rs8,209.
The rally reflects strong global demand for precious metals amid ongoing economic uncertainty and investor preference for safe haven assets.
Yesterday, gold prices climbed to record highs on Tuesday, driven by worsening geopolitical conditions and expectations of further interest rate cuts by the US Federal Reserve, lifting both global and domestic bullion markets to historic levels.
Read More: Gold, silver reach all-time highs
Prices of gold and silver surged globally and locally amid heightened tensions involving the United States, Venezuela and Iran, alongside ongoing geopolitical uncertainty, which has strengthened demand for safe-haven assets.
In the international bullion market, the price of gold rose for a second consecutive day, gaining $9 per ounce to reach a new all-time high of $4,595.
Following the global trend, gold prices in the local market also increased sharply. The price of gold per tola rose by Rs900 to reach Rs481,186, while the price of 10 grams increased by Rs771 to Rs413,118.
Silver prices also posted strong gains. The price of silver per tola rose by Rs180 to a new record of Rs9,075, while the price of 10 grams increased by Rs154 to Rs7,780.