Pakistan Sees Historic Surge in Gold Prices
Gold prices in Pakistan soared to unprecedented levels on Tuesday, with pure 24-karat gold approaching the Rs400,000 per tola milestone for the first time in history.
According to bullion traders, the surge mirrors a global rally as international gold rates rose by $31 per ounce, touching $3,757.
In Pakistan, 24-karat gold is now priced at Rs400,000 per tola, while 22-karat and 21-karat stand at Rs366,666 and Rs350,000 per tola, respectively.
Experts link the climb to global economic and political uncertainty, the continuous depreciation of the Pakistani rupee, and a shift among investors toward gold as a safe-haven asset.
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The momentum follows the increase of Rs3,400 per tola on Monday, when 24-karat gold rose from Rs390,300 to Rs393,700. Rates for 10 grams also jumped by Rs2,915 to reach Rs337,534.
Internationally, gold has remained on an upward trajectory, settling at $3,719 per ounce a day earlier before surging further.
Analysts warn that volatility in global markets and persistent currency weakness may keep domestic gold prices elevated in the coming weeks.
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