Gold price increases by Rs2,200 per tola in Pakistan

Karachi (Web Desk): Gold prices in Pakistan have continued their upward trend, with rates reaching new record levels once again.

According to the All Pakistan Sarafa Gems and Jewellers Association, the price of gold increased by Rs2,200 per tola today, bringing the price of one tola gold to Rs456,536.

Similarly, the price of 10 grams of gold also rose by Rs1,887, reaching Rs391,406.

The latest increase follows a rise of Rs5,100 recorded a day earlier. Overall, gold has become Rs28,600 more expensive per tola during the past four days.

Market analysts attribute the continuous rise in gold prices to global economic uncertainty, ongoing geopolitical tensions, monetary policy decisions by central banks, and fluctuations in the value of the US dollar. Changes in international gold markets directly affect prices in local bullion markets.

Meanwhile, the continued increase in gold prices has raised concerns among jewellery buyers. Traders in the local bullion market say that high prices have led to a noticeable decline in buying activity, with most customers now purchasing gold only when necessary.