Gold Prices Soar to Record Highs as Global Rates Surge

Karachi | September 29, 2025 — Gold prices skyrocketed on Monday, marking new all-time highs in both international and domestic markets as global bullion rates continued their sharp upward trend. According to the All Pakistan Gems and Jewellers Association (APGJA), international gold prices surged by $59, touching an unprecedented $3,818 per ounce. In Pakistan, the bullion market followed suit, with the per tola price jumping by Rs5,900 to reach a record Rs403,600. Similarly, the rate for 10 grams of gold increased by Rs5,058, settling at Rs346,021. Surge Driven by Global Demand & Dollar Weakness Market experts link the sharp rally to strong international demand combined with a weakening US dollar, both of which have boosted investor interest in safe-haven assets like gold. During intraday trading, spot gold climbed 1.7% to $3,824.52 per ounce, briefly touching $3,829.13, its highest level yet. Meanwhile, other precious metals also recorded significant gains: Silver surged 2.1% to $46.95 per ounce, its highest level in over 14 years. Platinum advanced 1.7% to $1,595.35, a 12-year peak. Palladium edged up 0.7% to $1,279.46. Context & Background Pakistan has long been a key consumer of gold, with demand increasing during periods of economic uncertainty. It is worth noting that back in 2006-07, the government introduced a 1% withholding tax on the commercial import of gold to regulate trade. With bullion hitting record highs globally and domestically, jewellers and investors are keeping a close eye on further movements in the international market, which could continue to influence local pricing trends.

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