Gold prices in Pakistan continued their upward trend on Friday, with rates reaching new highs in local bullion markets due to increasing international demand and global economic uncertainty.
According to market data, the price of 24-karat gold climbed to around Rs488,500 per tola, while 10 grams of 24K gold were being sold above Rs418,000. The steady increase has once again created concern among buyers and jewelry traders across the country.
The rise in local gold prices follows a major jump in the international bullion market, where gold crossed nearly $4,700 per ounce. Analysts say investors are shifting towards gold as a safer investment amid fears of inflation, currency instability, and ongoing geopolitical tensions worldwide.
Jewelry sellers in major cities including Karachi, Lahore, Islamabad, and Rawalpindi reported reduced customer activity as higher prices pushed many buyers away from the market. Traders believe the wedding season demand may also contribute to further fluctuations in prices during the coming weeks.
Economic experts say the Pakistani rupee’s movement against the US dollar also plays an important role in determining local gold prices. Any further weakening of the rupee could push rates even higher in the domestic market.
Meanwhile, investors continue monitoring global economic developments closely, as gold remains one of the strongest safe-haven assets during uncertain financial conditions. Market observers expect volatility in prices to continue over the next few days.
Also read: Gold Prices Remain Volatile Amid Global Uncertainty
