Gold prices have shattered all previous historical records, surging to unprecedented levels on Monday across both international and domestic markets. The rally has been driven by strong safe-haven demand, as investors seek protection amid global economic uncertainty. In addition, continued and robust buying by consumers and investors has further fuel the upward momentum in gold prices, reinforcing its status as a preferred store of value in volatile times.

In the international bullion market, spot gold rose 1.7% to $4,413.01 per ounce after touching a record high of $4,420.01 earlier in the session. US gold futures for February delivery gained 1.4% to $4,446.70 per ounce.

Following the global upward trend, gold prices in Pakistan have also broken all previous records. The price of gold per tola surged by Rs 6,200 to reach a historic high of Rs 462,362. Similarly, the price of 10 grams of gold increased by Rs 5,315, taking it to Rs 396,400. With this sharp rise, gold has surpassed its previous peak, setting a new all-time high in the local market.

Market participants are showing a growing preference for gold as a safeguard against geopolitical tensions, with the ongoing rally largely driven by cautious, defensive strategies rather than speculative activity. The upward momentum has strengthened as investors reevaluate their exposure to assets sensitive to political instability, potential disruptions in energy supplies, and persistent trade-related uncertainty.

According to experts, gold is expected to remain on an upward trajectory in the near term. Even if prices experience a temporary pullback, they are unlikely to fall below the $4,200 level. Analysts further believe that gold could reach the $5,000 mark sometime in the coming year, supported by sustained demand and ongoing global uncertainties.

 Credit: Independent News Pakistan (INP)