KARACHI – Gold prices in Pakistan have surged to an unprecedented level, breaking all previous records. According to the All Pakistan Sarafa, Gems & Jewelers Association, the per-tola price rose by PKR 4,300, reaching PKR 486,162.
Also Read: Gold Prices Surge Again Across Pakistan, Rising by Thousands of Rupees
Local Gold Prices Surge
Additionally, the price of 10 grams of gold increased by PKR 3,687, reaching PKR 416,805. Traders said this rise reflects strong local demand and global trends.
Investors and consumers are concerned, as gold remains a key asset during economic uncertainty. Moreover, analysts noted that inflation, currency fluctuations, and rising demand drive higher prices.
Global Market Influences
Meanwhile, international gold prices also climbed. Global rates rose by USD 43 per ounce, reaching USD 4,638 per ounce. Experts explained that inflation, geopolitical tensions, and central bank policies contributed to the increase.
Since Pakistan imports most of its gold, global price hikes and a weak rupee directly affect local rates. Therefore, local buyers feel the impact immediately.
Key Factors Behind the Surge
Several factors have contributed to record prices:
Currency Depreciation: A weaker rupee makes imported gold costlier.
Inflation: Rising costs encourage investors to buy gold as a hedge.
Global Uncertainty: Political and economic instability fuels demand for safe assets.
Local Demand: Weddings and festivals drive gold purchases in Pakistan.
As a result, analysts predict that prices may continue rising if these conditions persist. They advise buyers to monitor both local and international markets closely.
Impact on Consumers and Investors
The surge affects both small buyers and large investors. Consequently, jewelry enthusiasts face higher costs, while investors see opportunities with higher risks. Gold continues to serve as a safe store of wealth in Pakistan.
Historically, gold prices have spiked periodically. However, the current level surpasses previous highs, reflecting local economic challenges and global market dynamics.
Conclusion
Gold now costs PKR 486,162 per tola, making it a key focus for consumers and investors. Traders continue to monitor international markets, currency shifts, and local demand. With gold seen as a hedge against inflation and uncertainty, the market is likely to remain active.
