ISLAMABAD: Gold prices in Pakistan have experienced a sharp increase, with the rate of 24-karat gold per tola rising by Rs. 2,300, bringing the price to Rs. 282,800 as of December 12, 2024. The hike comes amid fluctuations in both global and local markets.
For smaller quantities, the price of 24-karat gold per 10 grams has risen by Rs. 1,971, now standing at Rs. 242,455. Similarly, the rate for 22-karat gold per 10 grams has reached Rs. 222,250.
International Gold Prices Climb
Globally, gold prices have increased by $23 per ounce, with the current rate at $2,716 per ounce. Meanwhile, silver prices have remained stable in Pakistan, with 24-karat silver per tola priced at Rs. 3,450, and silver per 10 grams at Rs. 2,957.81.
Factors Driving the Surge
The rise in gold prices is attributed to global economic uncertainty and growing demand for gold as a safe-haven asset during volatile market conditions.
Impact on Consumers and Investors
The price increase is expected to significantly impact consumers and investors in Pakistan, especially in the wedding and jewelry markets, where gold holds traditional and economic value.
As gold continues to soar, it remains a key focus for those looking to hedge against economic instability and inflation.
