The gold price in Pakistan has surged to a new record high, continuing a strong upward trend in both domestic and global markets. On Monday, the All Pakistan Sarafa Gems and Jewellers Association reported a significant hike in 24-karat gold rates. The price per tola jumped by Rs3,400, reaching Rs393,700. Similarly, 10 grams of gold now costs Rs337,534, marking another notable increase for investors and buyers.
Global markets have also felt the impact, with gold prices rising by $34 per ounce, bringing the international rate to $3,719. This rise in gold price reflects ongoing economic uncertainties and growing demand for precious metals as safe-haven assets. Analysts suggest that currency fluctuations, inflation, and geopolitical tensions are key factors influencing the recent surge.
Silver prices in Pakistan followed a similar pattern. The price of 24-karat silver per tola increased by Rs63 to reach Rs4,595, while 10 grams of silver now costs Rs3,939. Traders noted that demand for both gold and silver remains strong, particularly in urban markets where investment in precious metals is seen as a hedge against economic instability.
Market experts advise buyers to monitor trends closely, as further fluctuations in gold price are expected in the coming weeks. They emphasize that global economic conditions, central bank policies, and currency exchange rates will continue to affect prices.
Jewellers also reported a rise in consumer inquiries, with many looking to purchase gold for investment and personal savings. The consistent increase in gold price has prompted both small and large investors to consider securing gold assets, anticipating continued appreciation.
Overall, the domestic surge mirrors global market trends, highlighting the importance of precious metals as a reliable investment. Pakistanis are encouraged to stay informed and make timely decisions to benefit from the current spike in gold price while keeping market volatility in mind.
In other related news also read Gold Rates Drop Across Pakistan
