Islamabad(The COW News Digital)Gold prices continued their sharp upward trend on Wednesday, pushing the precious metal further out of reach for ordinary consumers as both global and local markets recorded significant gains. The sustained rally reflects growing economic uncertainty worldwide and a renewed shift by investors and central banks toward safe-haven assets.
In the international bullion market, the price of gold jumped by $148 per ounce, reaching a historic level of $5,064 per ounce. This marked the third consecutive day of gains, despite ongoing volatility in global financial markets. Analysts say concerns over inflation, geopolitical tensions, and fluctuating currency values have reinforced gold’s status as a reliable store of value.
The global surge had a direct impact on Pakistan’s local bullion markets. According to market data, the price of gold per tola rose by Rs14,800, climbing to Rs529,162, while the price of 10 grams of gold increased by Rs12,689 to settle at Rs453,671. Traders noted that demand remained strong despite record-high prices, largely driven by investors seeking protection against economic instability.
Market experts increasingly view gold not just as a precious metal but as a sensitive indicator of global economic health. Over the past several days, investors and central banks across multiple countries have continued reallocating assets into gold, signaling limited confidence in traditional financial instruments.
Silver prices also followed an upward trajectory. In the international market, silver gained $1.80 per ounce, reaching $87.80. As a result, prices in local markets increased, with silver per tola rising by Rs109 to Rs9,255, while 10 grams of silver climbed by Rs93 to Rs7,934.
Overall, the past three days have seen a substantial recovery in precious metal prices. Gold has rebounded by $408 per ounce globally, while the domestic price of gold has surged by a cumulative Rs38,800 per tola. Silver has also shown strong momentum, gaining $8.50 per ounce internationally and Rs850 per tola locally during the same period.
Financial research institutions and global market analysts continue to forecast further increases in gold and silver prices in the near term. These projections, combined with persistent global uncertainty, have kept demand for precious metals strong, even as prices reach unprecedented levels. For consumers, however, the latest surge means gold is becoming increasingly unattainable, reinforcing its shift from a traditional household asset to a primarily investment-driven commodity.
