Gold Rate Today: Prices Soar to Record Highs

Gold prices in Pakistan have reached new heights, with 24-karat gold per tola increasing by Rs5,300 to Rs299,600, and 10 grams of 24-karat gold rising by Rs4,158 to Rs256,859, driven by the surge in world gold prices.

The rise in gold prices is attributed to the increase in world gold prices, which reached $2,868 from $2,815. The All Sindh Sarafa Jewellers Association reported that the surge mirrors the global market trend, with domestic gold prices influenced by world prices. The association also noted that silver prices have risen, with per tola silver increasing by Rs36 to Rs3,350 and 10 grams of silver going up by Rs31.08 to Rs2,872.08.

The gold prices in Pakistan have hit an all-time high of Rs299,600 per tola, driven by uncertainties over the US trade war with China, Mexico, and Canada. The All Pakistan Sarafa Gem and Jewellers Association reported gold prices increasing to Rs256,859 per 10 grammes and Rs299,600 per tola. International gold prices surged to an all-time high of $2,868 per ounce, further fueling the rise in domestic prices.

The rising prices have put buyers in a dilemma, causing vacant shops and financial troubles for small and medium-sized jewellers and workers. Experts are calling for the government to establish a regulatory authority to fix daily bullion rates, which would help stabilize the market and provide relief to buyers and sellers alike.

As the gold prices continue to fluctuate based on international market trends, local gold markets and Sarafa markets in various cities are providing the latest rates. The All Pakistan Sarafa Gem and Jewellers Association and other associations are closely monitoring the situation, providing updates on the gold rate today and its impact on the local market.