Gold prices in Pakistan saw a record-breaking surge on Monday, in line with international market trends, surpassing the Rs. 300,000 per tola mark once again. The price hike reflects growing economic uncertainty, rising inflation, and an increased global demand for the precious metal.
Gold Prices Hit an All-Time High
According to data released by the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA):
🔹 The price of 24-karat gold per tola surged by Rs. 4,000, reaching Rs. 303,000 – the highest ever recorded in the country.
🔹 The price of 10 grams of 24-karat gold jumped by Rs. 3,429, bringing it to Rs. 259,773.
Global Market Impact
The increase in Pakistan’s gold prices comes as the global gold market witnessed a major price hike. The price of gold per ounce jumped by $42, reaching $2,903, with an additional premium of $20. This rise is largely attributed to:
✔️ Economic instability and fears of a potential global recession.
✔️ Weakening of major currencies, leading investors to turn to gold as a safe-haven asset.
✔️ Geopolitical tensions, which have further fueled demand for precious metals.
Silver Prices Also Rise
Alongside gold, silver prices in Pakistan also saw a sharp increase:
🔹 24-karat silver per tola increased by Rs. 43, reaching Rs. 3,373.
Market Reactions & Future Outlook
Experts believe that gold prices may continue to rise due to fluctuations in the U.S. dollar, increasing inflation, and ongoing global economic concerns. Investors are rushing to gold as a hedge against financial instability, making further price hikes likely in the coming weeks.
With gold now above Rs. 300,000 per tola, buyers in Pakistan’s jewelry market are adopting a cautious approach, while investors are closely monitoring trends to determine future investment strategies.
