Karachi — Gold prices in Pakistan soared to a historic peak on Saturday, with the rate per tola jumping by Rs. 6,100 to reach Rs. 384,000, reflecting global gains as investors flock to safe-haven assets during heightened economic uncertainty.
According to the All Pakistan Gems and Jewelers Association, the price of 10 grams of gold rose to Rs. 329,219, marking an increase of Rs. 5,230. This comes after a previous hike of Rs. 1,200 per tola on Friday, pushing the rate then to Rs. 377,900.
Global Market Influence
The surge in local prices closely mirrors the international bullion market, where gold reached $3,613 per ounce with a $20 premium. Analysts attribute this rally to expectations of a potential U.S. Federal Reserve rate cut, prompted by weaker-than-expected jobs data, fueling global demand for gold.
Silver Prices Also Climb
Alongside gold, silver prices also registered gains, with the per tola rate rising Rs. 23 to Rs. 4,338.
Economic Implications
Financial experts suggest that rising bullion prices reflect both global economic instability and domestic challenges. While investors consider gold a secure hedge, the surge also places additional pressure on local consumers, particularly those planning weddings or jewelry purchases.
This unprecedented rise underscores the strong linkage between Pakistan’s gold market and international economic trends, making bullion one of the most closely watched commodities in the country.
Disclaimer: This article is for informational purposes only.
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