ISLAMABAD – Gold prices rose sharply in Pakistan’s domestic market on Saturday, following a global upward trend.
According to the All Pakistan Gems and Jewellers Association, the per tola gold price increased by Rs2,300 to reach Rs428,862. Similarly, 10-gram gold rose by Rs1,808, closing at Rs367,860.
The precious metal also gained in international markets, with the price per ounce climbing $23 to $4,065. The rise comes after gold prices had remained stable a day earlier at Rs426,562 per tola and Rs365,708 per 10-gram.
Analysts say the increase in gold prices reflects global economic uncertainty and rising demand for safe-haven assets. Gold has traditionally been seen as a hedge against inflation and currency fluctuations.
In Pakistan, weekly inflation showed a slight increase of 0.07%, bringing the annual rate to 3.53%, according to the Pakistan Bureau of Statistics (PBS). The report highlighted that the prices of 16 essential items increased, while 13 items became cheaper and 22 remained stable.
Key commodities that saw price hikes include tomatoes, up 57.03%, garlic by 2.61%, and sugar by 2.23%. Other items that became more expensive included bananas (0.72%), tea (0.59%), diesel, beef, cooking oil, LPG, and firewood.
Conversely, some essential items recorded price drops. Onion prices fell by 12.38%, chicken by 8.07%, while potatoes, flour, eggs, and pulses such as mung beans and chickpeas also saw reductions.
In other news read more about Gold Prices Fall Sharply in Pakistan, 24K Drops Rs5,000 Per Tola
The surge in gold prices comes as Pakistanis increasingly turn to gold as a safe investment amid rising inflation and market volatility. Experts advise keeping track of gold prices regularly for both investment and savings decisions.
