Gold prices surge to Rs303,000 as global rates climb

(Web Desk): Gold prices in Pakistan rebounded on Monday, following an increase in international prices. The price of gold per tola rose by Rs4,000, reaching a new all-time high of Rs303,000.

Meanwhile, the price of 10 grams of gold increased by Rs3,429, reaching Rs259,773, according to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA).

Internationally, gold prices also saw an increase, staying near the record high set in the previous session.

Investors turned to gold as a safe-haven investment after US President Donald Trump announced plans to impose new tariffs on steel and aluminum imports, raising concerns about a potential global trade war. Trump revealed over the weekend that he would introduce new 25% tariffs on these imports and also stated that he plans to impose reciprocal tariffs on several countries in the near future.

Gold is often seen as a safe investment during economic uncertainty, but higher interest rates can make it less attractive. On Monday, the international price of gold hit a record high of $2,903 per ounce, up $42 from the previous day.