Gold Prices Hit Record High Amid Escalating U.S.-China Tariff War

Web Desk: Growing tensions between the United States and China over a renewed tariff war have triggered panic in global financial markets, prompting investors to shift their focus to safe-haven assets—particularly gold. As a result, gold prices have surged to record-breaking levels both locally and internationally.

Gold Prices Skyrocket in Pakistan
At the start of the business week, gold in Pakistan experienced a historic price hike, rising by Rs. 17,000 per tola (11.66 grams) in a single day.

The price of 24-karat gold has soared to Rs. 390,000 per tola, a new all-time high.

22-karat gold is now being sold at Rs. 357,500 per tola,

While 21-karat gold stands at Rs. 341,250 per tola.

Global Market Trends
In the international market, gold prices have also witnessed a sharp upward trend, with the price per ounce touching $3,490, setting a new global benchmark.

Economic Experts Raise Alarms
Economists attribute the rally in gold prices to fears of economic fallout from escalating U.S.-China trade tensions and potential sanctions. With market uncertainty high, investors are rushing towards gold, which is traditionally considered a safe-haven investment during turbulent times.

Experts warn that if the current geopolitical and economic situation continues, gold prices could rise even further—both globally and in local markets—leading to a potential increase in inflation and cost of living in countries like Pakistan.