Gold prices in Pakistan soared to unprecedented levels on Monday, mirroring a bullish trend in international markets as investors increasingly turn to the precious metal amid economic volatility. The latest surge has sparked widespread attention among traders and consumers alike, with demand showing no signs of slowing down.
Data from the international bullion market revealed a $5 per ounce increase, pushing the global price of gold to $3,027. This upward movement directly influenced local rates, with the price of 24-carat gold per tola in Pakistan jumping by Rs600 to a record Rs318,600. Similarly, the cost of 10 grams of gold saw a rise of Rs515, reaching Rs273,148, according to local market updates.
The persistent climb in gold prices has been linked to growing uncertainty in the global economy, prompting investors to seek refuge in safe-haven assets. Analysts point out that factors such as inflationary pressures, geopolitical tensions, and fluctuating currency values have bolstered gold’s appeal as a reliable store of value. In Pakistan, the trend is further amplified by cultural affinity for gold, particularly during wedding seasons and festive periods, which traditionally drive up demand.
Market observers note that the current trajectory aligns with broader patterns seen over the past year, where gold has consistently outperformed other investment options. “Gold remains a go-to asset in times of crisis,” said a Karachi-based financial expert. “The Rs600 per tola increase reflects not just global trends but also the local appetite for security in uncertain times.”
For the average consumer, however, the rising prices pose a challenge, particularly for those planning to purchase gold for upcoming celebrations. Jewelers across major cities like Lahore and Islamabad report mixed sentiments—while some buyers are rushing to secure gold before prices climb further, others are holding off in hopes of a correction.
As the global market continues to dictate local trends, all eyes remain on international developments that could either sustain or disrupt gold’s remarkable run. For now, the precious metal’s allure remains undiminished, cementing its status as a cornerstone of financial safety in Pakistan and beyond.
