Karachi (Web Desk): There has been a notable increase in gold prices in the international market, and this surge has also affected Pakistan’s bullion market. The price of gold per ounce has risen by $29, reaching $3,395, marking the highest level seen in recent times.
In Pakistan, the impact of this rise in global gold prices has been immediate. In local bullion markets, the price of gold per tola has increased by Rs 2,900, reaching Rs 362,200. Similarly, the price of 10 grams of gold has risen by Rs 2,487, now standing at Rs 310,528.
Experts say that the ongoing global economic uncertainty, inflation, and fluctuations in currency values are driving investors towards gold, which is causing its prices to rise steadily. In Pakistan, the depreciation of the rupee and rising import costs have also contributed to the increase in local gold prices.
Traders in the bullion market indicate that if the current trend in global gold prices continues, local gold prices in Pakistan may rise further. Additionally, with the wedding season approaching, the demand for jewelry is expected to increase, which could put further pressure on the local market.