Silver prices in Pakistan surged to a new record on Friday, climbing by Rs. 240 to reach Rs. 7,945 per tola, while gold also continued its upward march in line with international gains.
According to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), gold price per tola rose by Rs. 500 during the day, reaching Rs. 473,362. The price of 10-gram gold increased by Rs. 429 to settle at Rs. 405,831.
Earlier in the week, on Wednesday, gold had already set a fresh all-time high of Rs. 472,862 per tola after a sharp gain of Rs. 2,000.
On the international front, gold prices rose by $5 to reach $4,510 per ounce (including a $20 premium). Spot gold climbed 0.6% to $4,504.79 an ounce as of 4:23 a.m. GMT, after hitting a record $4,530.60 earlier in the session. U.S. gold futures for February delivery advanced 0.7% to $4,535.20. Silver outpaced gold’s rally, jumping 3.6% to $74.56 an ounce after touching a record $75.14.
The rally in precious metals has been fueled by speculative momentum, thin year-end liquidity, and growing expectations of further U.S. interest rate cuts. Rising geopolitical tensions have added to the bullish sentiment, propelling gold, silver, and platinum to weekly gains.
“Momentum-driven and speculative players have been powering the rally in gold and silver since early December, with thin year-end liquidity, expectations of prolonged U.S. rate cuts, a weaker dollar and a flare-up in geopolitical risks combining to push precious metals to fresh record highs,” said Kelvin Wong, senior market analyst at OANDA. “Looking ahead into the first half of 2026, gold could move towards the $5,000 level, while silver has the potential to reach around $90.”
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