Gold prices in Pakistan have continued their relentless upward trajectory, reaching an unprecedented level in the domestic market. This sharp rise has set a new record, further intensifying concerns about inflation and the overall cost of living.
According to the All Pakistan Gems and Jewellers Association, the per tola price of gold experienced a significant increase of Rs 6,900, bringing the new official rate to Rs 435,100. This marks one of the largest single-day jumps in recent months.
Similarly, the price of 10 grams of gold also witnessed a substantial increase of Rs 5,916, pushing the rate to a new peak of Rs 373,028. This surge reflects not only the global trends in precious metals but also the economic pressures being felt locally.
In the international market, gold prices soared after a notable surge of $69 per ounce, climbing to a record level of $4,140 per ounce. This global rally has had a direct impact on the domestic gold market, further fueling the price hike across Pakistan.
Experts and market analysts believe that the combination of rising global gold prices and ongoing domestic economic instability has created a perfect storm, driving the local gold market to new heights. They say this sustained increase could place additional pressure on ordinary consumers and the jewelry industry in the coming weeks.
