By Our Correspondent
KARACHI — Gold prices in Pakistan have touched the sky, breaking all previous records as global rates continue to climb on the back of strong investor demand and economic uncertainty.
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According to data released by the All Pakistan Gems and Jewellers Sarafa Association, the price of 24-karat gold soared by Rs1,900 per tola, reaching a historic peak of Rs442,800. Likewise, the price of 10 grams of gold jumped by Rs1,629 to settle at an unprecedented Rs379,629.
In the international bullion market, gold prices also remained on an upward trajectory, increasing by $19 to hit $4,217 per ounce.
While gold continues to shine, silver prices held steady. The local market recorded silver at Rs5,337 per tola and Rs4,575 per 10 grams, with the international price unchanged at $52.50 per ounce.
Market experts believe the spike in prices is being fuelled by a combination of global inflation fears, a weakening Pakistani rupee, and investors rushing towards safe-haven assets. They warned that if the trend continues, it could further dampen the jewelry market and raise pressure on consumers.
Gold prices in Pakistan hit a historic high of Rs442,800 per tola as international rates surge, driven by inflation concerns, currency weakness, and strong investor demand.
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