Gold Prices Soar in Pakistan, Hitting Record Highs
Price per Tola Reaches Rs281,800 Amid Global Economic Uncertainties
Gold prices in Pakistan continued to rise on Saturday, marking a significant upward trend.
The price per tola jumped by Rs900, reaching an all-time high of Rs281,800, according to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA). Additionally, the price for 10 grams of gold increased by Rs772, bringing it to Rs241,598. This surge follows a substantial rise on Friday when gold prices had already climbed by Rs3,000, setting a previous record of Rs280,900.
The international market also experienced an uptick in gold prices on Saturday, with rates rising to $2,721 per ounce, accompanied by a premium of $20—an increase of $9 throughout the day.
Several factors have contributed to the rise in gold prices, including escalating tensions in the Middle East, uncertainties related to the upcoming U.S. elections, and a shift toward more accommodating monetary policies.
Alongside gold, silver prices also saw an increase, rising by Rs50 to reach Rs3,150 per tola.
Market analysts indicate that investors are increasingly turning to gold as a safe-haven asset amid global economic uncertainties, further driving demand and pushing prices to record levels.
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