Silver prices in Pakistan surged to a new historic high on Friday, reflecting strong momentum in the global precious metals market. According to market data, the price of silver jumped by Rs 240 per tola, reaching a record Rs 7,945, marking one of the sharpest single-day increases in recent months.

Gold also continued its upward march in line with international gains. The All-Pakistan Gems and Jewellers Sarafa Association (APGJSA) reported that the price of gold rose by Rs 500 per tola to settle at Rs 473,362. Similarly, the price of 10 grams of gold increased by Rs 429, closing at Rs 405,831.

Earlier this week, gold had already set a fresh all-time high when it surged by Rs 2,000 per tola on Wednesday, underlining strong investor demand and sustained bullish sentiment in the local market.

On the international front, gold prices rose by $5 to $4,510 per ounce, including a $20 premium. Spot gold climbed 0.6% to $4,504.79 an ounce, after touching a session high of $4,530.60, while U.S. gold futures for February delivery advanced 0.7% to $4,535.20.

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Silver outperformed gold globally, jumping 3.6% to $74.56 per ounce, after briefly touching a record $75.14. Analysts attribute the rally to speculative momentum, thin year-end liquidity, expectations of further U.S. interest rate cuts, a weaker dollar, and rising geopolitical tensions.

Market experts believe the bullish trend could continue into 2026, with gold potentially approaching $5,000 per ounce and silver moving toward the $90 level.