ISLAMABAD: Gold prices in Pakistan, driven by an increase in international rates, saw a record increase on Thursday and reached an all-time high.
The price of 24 karat per tola gold now stands at Rs 321,000 with an increase of Rs 3,200. Meanwhile, the price of 10 grams of gold increased by Rs 2,743, reaching Rs 275,205.
This record increase reflects the rising demand for gold as a strong asset amid global economic uncertainties. The continuous rise in gold prices in Pakistan has prompted investors and traders to closely monitor market trends.
According to the All Pakistan Sarafa Gems and Jewelers Association, the price of gold in the international market also increased by $ 31 to $3,052 per ounce from $ 3,02.
The price of per tola silver increased by Rs. 105 to Rs. 3,580, whereas that of ten-gram silver went up by Rs. 90 and was traded at Rs. 3,069.
Bullion traders have linked the surge to strong demand, inflation concerns, and currency fluctuations. The local market continues to reflect global trends, with buyers turning to gold as a safe-haven asset.
They noted that the ongoing crisis in the Middle East has significantly contributed to market uncertainty, prompting investors to shift towards gold as a hedge against economic instability.
As gold prices in Pakistan continue to climb, traders and investors are exercising caution regarding future trends.
Market experts indicate that if global economic conditions stay unstable, gold prices may experience additional increases in the coming weeks.
Pakistan’s bullion market remains highly sensitive to international price fluctuations, making gold a compelling investment despite its rising cost.
