Gold Price Surges by Rs2,600 per Tola in Pakistan
Gold prices in Pakistan recorded a sharp increase on Monday, reflecting a rising trend in the international bullion market, according to data released by the All Pakistan Gems and Jewellers Sarafa Association.
The price of gold surged by Rs2,600 per tola, taking the rate to Rs454,862 across local markets. Similarly, the price of 10 grams of gold rose by Rs2,229 to settle at Rs389,970.
The upward movement in domestic prices followed gains in the global market, where gold prices increased by $26 per ounce, reaching $4,325. Analysts attribute the rise to sustained demand for safe-haven assets amid global economic uncertainty and fluctuating currency markets.
Silver prices also witnessed an increase in the local market. Per tola silver rose by Rs68, with the new price recorded at Rs6,532.
Market experts say volatility in global financial markets, geopolitical developments, and expectations around interest rate policies continue to influence precious metal prices in Pakistan. Jewellers noted that the surge may impact buying trends, particularly ahead of the wedding season, as consumers remain cautious amid record-high rates.
The continued rise in gold prices has once again highlighted the metal’s role as a preferred store of value for investors in times of economic instability, both locally and internationally.
