Karachi (Web Desk): Gold prices in Pakistan have surged to an all-time high, crossing the Rs425,000 per tola mark amid rising international rates and the continued depreciation of the Pakistani rupee.
According to market sources, 10 grams of gold are now being sold for approximately Rs364,000.
The All Pakistan Gems and Jewellers Association reported that the surge follows a sharp increase in the global gold market, where prices have climbed to $2,600 per ounce. Experts attribute the rally to the strengthening US dollar, economic instability, and investors’ shift towards safe-haven assets such as gold.
Traders say the soaring prices have not only made jewelry purchases difficult for consumers but have also reduced overall trading activity in local bullion markets. They warn that if the current economic and currency trends continue, further price hikes may be expected in the coming days.
Meanwhile, economic analysts believe that global geopolitical tensions and inflationary pressures are fueling the rising demand for precious metals, directly influencing Pakistan’s domestic gold market.