KARACHI: The prices of 10-gram and one-tola gold (24kt) on Wednesday reached new all-time highs, hitting Rs378,000 and Rs440,900, respectively. This marks a significant increase of Rs4,972 for 10 grams and Rs5,800 for one tola compared to Tuesday’s rates.

The All Pakistan Sarafa Gems and Jewellers Association (APSGJA) reported a record global gold price of $4,198 per ounce, up by $58 per ounce.

A foreign media report attributed the surge in gold prices to a 60pc increase this year, driven by geopolitical tensions, including the Russia-Ukraine war and the Gaza-Israel conflict, as well as US tariffs. The recent rally was further fuelled by expectations of a US interest rate cut amid rising trade tensions between the US and China.

Published in Dawn, October 16th, 2025