KARACHI: Gold prices in Pakistan have skyrocketed to an all-time high, breaking previous records as the international market experiences a surge in demand for the precious metal. On Monday, the price of 24-karat gold reached PKR [Latest Price] per tola, marking a sharp increase from the previous rates.
According to market experts, the rise in gold prices is driven by fluctuations in global markets, the depreciation of the Pakistani rupee, and growing investor interest in safe-haven assets. The international price of gold has also surged, further impacting local rates.
Jewelers and traders report that while gold remains a preferred investment, high prices have slowed down purchasing activity in the local market. Meanwhile, economic analysts predict further volatility in gold rates depending on currency movements, inflation trends, and geopolitical uncertainties.
