Gold Rate in Pakistan Reaches Record High
The current gold rate in Pakistan is closely tied to global market fluctuations, with prices expected to remain volatile in the coming days. Investors and consumers should monitor international trends and economic developments to anticipate potential changes in gold prices.
The price of gold in Pakistan has surged to a record high of 299,000 rupees per tola, influenced by global market trends and economic instability. This increase is attributed to central banks' increased gold purchases to stabilize their economies, as well as the US's decision to raise tax rates on imports from major trade partners.
The fluctuation in gold prices is closely linked to international market trends, with local gold markets and Sarafa Markets in various cities providing updated rates. Experts warn that if the global gold price reaches $3,000 per ounce, prices in Pakistan could exceed 310,000 rupees per tola. This would have significant implications for the local economy and investors.
However, gold prices in Pakistan declined on Saturday, following a decrease in international rates. The price of 10-gram gold dropped to Rs256,344, a decrease of Rs897 from the previous day's price. The price of per tola gold also decreased by Rs1,046, reaching Rs299,000. The All-Pakistan Gems and Jewellers Sarafa Association (APGJSA) reported the international rate of gold as $2,861 per ounce, down by $8 from the previous day's rate.
As global economic instability persists, investors are turning to gold as a safe haven, driving up prices. The US's trade policies and central banks' actions will continue to influence gold prices in Pakistan, making it essential for investors and consumers to stay informed about market trends.
