Gold Prices in Pakistan are expected to rise due to a suspension of imports over the past five months.
Prior to this suspension, Pakistan was importing 40 to 50 kilograms of gold per month. From March to July 2024, no gold was imported.
Government records show that Pakistan imported 262 kilograms of gold worth $20 million in the fiscal year 2023-24, compared to 567 kilograms worth $30.6 million in the previous year, a 44.43% decrease.
Read more: Gold Prices in Pakistan Continue to Stay Steady
The suspension, which importers have faced for undisclosed reasons, is likely to drive up gold prices.
Jewellers emphasize that resuming gold imports is essential for stabilizing prices and have reported shortages in various cities.
