Date: August 24, 2024
Gold prices in Pakistan have surged dramatically, rising by Rs1,700 per tola (approximately 11.66 grams) over the past week. This sharp increase has been attributed to a combination of factors including global economic uncertainties and fluctuations in the value of the Pakistani rupee against major currencies.
The price of gold reached a new high of Rs. 211,000 per tola in the local market. This recent spike follows a period of relative stability in gold prices, highlighting the volatile nature of the precious metal’s market.
Local jewellers and gold traders have reported a significant impact on consumer behavior, with many either holding off on purchases or opting for smaller quantities due to the increased costs. This trend reflects broader economic concerns and the financial strain on individuals and businesses alike.
Experts predict that the gold market may experience further fluctuations, influenced by ongoing global economic conditions and domestic financial policies. Investors and consumers are advised to stay informed and consider these factors when making gold-related transactions.
