KARACHI: The gold price in Pakistan has reached a new all-time high on Thursday as rates continue to soar across the country. The All Pakistan Gems and Jewellers Association reported a significant increase in local gold rates, leaving both investors and customers concerned.
According to the latest update, the gold price per tola has surged by Rs2,000, bringing the new rate to an astonishing Rs350,000 per tola. Similarly, the price of 10 grams of gold has increased by Rs1,715, reaching Rs300,368.
This sharp rise in the local gold price is in line with trends seen in the international market. Globally, gold saw an increase of $19 per ounce, taking the international price to $3,329 per ounce. Analysts believe that ongoing economic uncertainties, inflation, and fluctuations in currency values are driving the gold price up worldwide.
| Type | Previous Price | Increase | New Price |
|---|---|---|---|
| Gold (per tola) | Rs. 348,000 | Rs. 2,000 | Rs. 350,000 |
| Gold (10 grams) | Rs. 298,653 | Rs. 1,715 | Rs. 300,368 |
| Gold (per ounce – Intl.) | $3,310 | $19 | $3,329 |
The rising gold price has brought both excitement and worry. For those who invested in gold earlier, this new high means greater returns. However, for individuals planning weddings or looking to purchase jewelry, the soaring gold price has made it difficult to afford even basic gold items.
On Wednesday the gold price in Pakistan reached an all-time high, the price of 24-karat gold increased sharply by Rs8,600 per tola.
With the gold price hitting such historic levels, it remains to be seen how the market reacts in the coming days and whether any relief is on the horizon for consumers.
