Gold in Pakistan are once again making headlines as they continue to break records, reaching closer to Rs. 420,000 per tola. The rising prices have caught the attention of investors, jewellers, and the general public alike, as gold remains one of the most trusted forms of investment in uncertain economic times.
On Tuesday, the price of gold per tola climbed to Rs. 416,778, showing an increase of Rs. 1,500 in a single day. The data was shared by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA). Similarly, the rate for 10 grams of gold also went up, selling at Rs. 357,319, which marks a rise of Rs. 1,286.
This comes right after Monday’s jump, when the per tola price had already increased by Rs. 5,400, hitting Rs. 415,278. The continuous upward movement shows that gold’s rally is far from over, both in local and international markets.
Global Market Influence
The rise in gold prices in Pakistan is closely linked to the international market trend. According to APGJSA, the global rate of gold stood at $3,955 per ounce, including a $20 premium, marking a daily increase of $15. Spot gold was seen trading around $3,960 per ounce, after hitting a new record high of $3,977.19 earlier in the day.
Experts say that global factors such as economic uncertainty, high inflation, and currency fluctuations are driving investors toward safe-haven assets like gold. With many international economies facing instability, gold is once again proving to be a reliable store of value.
Impact on the Local Market
In Pakistan, gold prices are heavily affected by the international market, as well as by the local currency’s exchange rate against the US dollar. The recent rise in global prices, combined with pressure on the Pakistani rupee, has pushed local gold rates to record highs.
While investors may see this as an opportunity to secure their wealth, buyers and jewellers are feeling the pinch. With prices touching new peaks almost every week, many people are postponing their jewellery purchases, waiting for some stability in the market.
Interestingly, silver prices took a different turn. On Tuesday, the price of silver per tola fell by Rs. 20, settling at Rs. 4,929.
