Gold prices in Pakistan have surged significantly, reflecting the impact of global market trends and a weakening Pakistani rupee. The price of 24-karat gold rose by Rs. 3,000 per tola on Wednesday, reaching a record-breaking Rs. 232,000 per tola, according to the All Pakistan Sarafa Gems and Jewellers Association (APSGJA).
In the international market, gold prices also witnessed a sharp increase, climbing by $25 to settle at $2,050 per ounce, as investors sought a safe haven amid ongoing economic uncertainties and geopolitical tensions.
Local traders attribute the surge to a combination of factors, including heightened demand during the wedding season, reduced supply of the precious metal, and fluctuating exchange rates.
Experts predict further volatility in gold prices as Pakistan continues to grapple with inflation and economic challenges. Prospective buyers are urged to keep a close watch on market trends before making significant investments in gold.
