The gold price in Pakistan has reached an all-time high, reflecting the upward trend seen in the global bullion market. On Monday, the rate of 24-karat gold per tola jumped by Rs3,300, setting a new record of Rs370,700. Similarly, the price of 10 grams of gold increased by Rs2,829, taking it to Rs317,815.
Global Market Impact
The surge in domestic prices coincided with a significant rise in international markets. The price of gold per ounce climbed by $33, reaching $3,480. This global increase has directly impacted Pakistan’s local bullion market, pushing rates to unprecedented levels.
Silver Prices Follow the Same Trend
The rise in precious metals was not limited to gold. Silver prices also recorded a sharp increase. The price of a tola of 24-karat silver rose by Rs101 to reach Rs4,303, while the rate of 10 grams of silver reached Rs3,689. These consistent hikes highlight the strong demand and rising value of precious metals both locally and globally.
Factors Driving the Increase
Experts link the surge in gold and silver prices to global economic uncertainties, currency fluctuations, and investor interest in safe-haven assets. Gold remains a preferred choice during times of inflation, geopolitical tension, and financial instability. As central banks diversify reserves and investors seek protection, demand for gold has surged, influencing markets like Pakistan.
Impact on Local Consumers and Investors
The record-setting prices have mixed implications for Pakistan. While investors in gold see higher returns, ordinary consumers face challenges, especially during the wedding season when gold jewelry is in demand. Rising prices also affect small traders, jewelers, and households relying on gold as a long-term investment.
Outlook for Precious Metals
Market analysts suggest that gold prices could continue rising if global uncertainty persists. However, any stabilization in international markets or strengthening of currencies may slow down the trend. Silver, often seen as a complementary investment to gold, is also expected to remain strong due to industrial demand and investor interest.
In Pakistan, the record prices are being closely watched by both investors and buyers. With global prices setting the pace, the bullion market may continue to experience sharp fluctuations in the coming months.
