KARACHI – The gold price in Pakistan’s city bullion markets surged sharply, with the rate per tola rising by Rs8,000 to reach a historic high of Rs426,000.
According to the Saraffa Market, 24-carat gold is now sold at Rs426,000 per tola. Meanwhile, 22-carat gold is priced at Rs390,500, and 21-carat gold is available at Rs372,750 per tola.
This significant increase in gold price has drawn attention from investors and consumers seeking safe-haven assets amid economic uncertainties. Analysts note that global market conditions, fluctuations in local supply, and the rising value of the US dollar are driving this surge.
On the international front, gold also recorded gains, with the price per ounce increasing by $36 to $4,026. Experts suggest that geopolitical tensions and economic volatility have prompted investors to shift toward precious metals, further pushing the gold price upward.
Market insiders say the spike in gold rates may continue in the short term, urging both buyers and sellers to stay updated with daily market trends. Jewelers also reported a noticeable rise in demand for gold ornaments as people look to hedge against inflation.
Financial analysts emphasize that monitoring the gold price is essential for investors who consider gold a safe investment, especially during periods of currency fluctuations and global uncertainties.
The Saraffa Market predicts that if current economic conditions persist, gold could maintain its high value, offering a reliable investment option for risk-averse individuals.
Overall, the recent surge in gold price highlights the precious metal’s enduring status as a preferred store of wealth in Pakistan and globally.
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