Gold hits fresh global record, Pakistan price drops Rs 2,100

Gold prices jumped to a fresh all‑time high on Monday, driven by a wave of safe‑haven buying as geopolitical and trade tensions rose. The rally reverberated in Pakistan, where the price of 24‑karat gold per tola slipped by Rs 2,100 compared with the previous day.

Global gold surge and tariff fears

According to FXStreet, the Asian session on October 13 saw gold reach a new peak. The surge was linked to several risk factors: US President Donald Trump’s threat of a 100 percent tariff on Chinese exports, new US export controls slated for November 1, China’s warning of counter‑measures, a prolonged US government shutdown, a Tomahawk missile warning over Ukraine, and market bets on further Federal Reserve rate cuts. Trump later softened his stance, saying he did not want to hurt China, but the initial threat contributed to heightened demand for safe‑haven assets.

Advertisement

Pakistan’s gold price reaction

Techx.pk reported that on October 13 the price of 24‑karat gold per tola in Pakistan stood at Rs 439,936, which is Rs 2,100 lower than the previous day’s rate. The same source noted that the price of 24‑karat gold per 10 grams was Rs 377,174 and that the US dollar remained steady at Rs 277.50 in the open market.

What the slip means for consumers and investors

For everyday Pakistanis, a Rs 2,100 drop in the tola price translates into a modest relief on the cost of jewellery and gold‑based savings, especially in a market where gold is a traditional hedge against inflation. However, the broader context of a global record price underscores that the local dip may be temporary if international pressures persist.

Outlook and next steps

The situation remains fluid. While the global price surge was confirmed by FXStreet, the impact of the US tariff threat on future gold demand is still developing. Analysts will watch for any further statements from the US administration, as well as reactions from China, to gauge whether safe‑haven buying will continue. In Pakistan, the price of gold will likely track the US dollar and global bullion trends, so any shift in the dollar’s value or in international risk sentiment could quickly reverse the recent slip.

Consumers planning to buy gold should monitor daily rates and consider the broader geopolitical backdrop that can cause rapid price swings. Investors may view the current dip as an entry point, but must remain aware of the volatility that accompanies global trade disputes.

Sources: FXStreet, techx.pk.