KARACHI: Gold prices continued their upward momentum on Thursday, reaching an all-time high in the local market, in line with global trends.
According to data released by the All Pakistan Gems and Jewellers Association, gold prices surged by Rs1,900 per tola, pushing the rate to a record Rs442,800. Similarly, the price of 10 grams increased by Rs1,629, reaching Rs279,629 — the highest level ever recorded in Pakistan.
Experts attribute the rise in gold prices to growing uncertainty in the global economy and the ongoing trade tensions between the United States and China. Investors are turning to gold as a safe-haven asset amid fears of economic slowdown and market instability.
In the international market, gold prices climbed to an all-time high of $4,217 per ounce, marking a $19 increase from the previous day. Analysts believe that continued geopolitical concerns and declining confidence in other investment options are fueling the rally.
A day earlier, the per tola price of gold had already hit a record high after rising by Rs5,800 to Rs440,900. Meanwhile, the 10-gram 24-karat gold price jumped to Rs378,000 from Rs373,028, and 22-karat gold reached Rs346,512 after an increase of Rs4,558.
Traders in Karachi and other major cities have reported increased activity in the gold market, as buyers rush to purchase before potential further price hikes. However, jewellers warn that demand could slow down if gold prices continue to rise at this pace.
In other news read more about Gold Prices in Pakistan Jump by Rs6,000 per Tola as Global Rates Rise
With no sign of easing in the global economic situation, market experts expect the upward trend to persist in the coming days. Investors are advised to monitor international developments closely, as gold remains one of the most stable assets in times of financial uncertainty.
