According to the All Pakistan Gems and Jewellers Association, the price of 24-karat gold surged by Rs3,300 per tola in local markets today, reaching an all-time high of Rs370,700.

The Association also reported that the price of 10 grams of 24-karat gold increased by Rs2,819, pushing the rate to Rs317,815.

Meanwhile, the international bullion market also witnessed a sharp rise. Gold prices climbed by $33 per ounce, taking the global rate to $3,480.

Economic experts believe this surge is mainly due to expectations of a cut in US interest rates. This speculation has boosted global demand for gold, pushing it to a four-month high.

Analysts further warn that if the US Federal Reserve actually decides to slash interest rates, both gold and silver prices could soar even higher in the coming weeks.

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The relentless rise in gold prices reflects both domestic and global economic uncertainty. In Pakistan, inflation and currency pressures have already made gold a preferred safe-haven asset. Internationally, expectations of a US Federal Reserve interest rate cut are driving investors to shift towards precious metals.

If these monetary policies materialize, Pakistan’s gold market could see yet another round of record-breaking prices. For consumers, this means weddings and jewelry purchases will become costlier, while investors may view this as a golden opportunity to preserve wealth in uncertain times.