Karachi: The price of gold witnessed a significant increase across Pakistan, with the rate per tola rising by PKR 1,100. According to the Jewellers Association, following this increase, the price of one tola of gold reached PKR 491,462.
Additionally, the rate for 10 grams of gold saw an increase of PKR 943, bringing its price to PKR 421,349. This rise reflects the ongoing fluctuations in both domestic and international gold markets.
Globally, gold prices have also shown an upward trend, with the rate per ounce increasing by USD 11, taking the international price to USD 4,687 per ounce. Analysts attribute the rise in gold prices to multiple factors, including global economic uncertainties, inflation concerns, and changes in foreign currency exchange rates, which directly impact the cost of importing precious metals.
Jewellers across major cities have reported a noticeable surge in demand following the price hike, as investors and consumers often view gold as a safe-haven asset during times of economic volatility. The increase in domestic prices corresponds closely with global trends, highlighting the interconnected nature of international commodities and local markets.
Experts advise buyers to monitor the market closely, as prices may continue to fluctuate based on international supply-demand dynamics, currency movements, and geopolitical developments affecting investor sentiment.
