Gold Prices in Pakistan have soared to unprecedented levels following a significant surge when markets reopened after a two-day Ashura break. Dealers cite multiple reasons for the spike, including anticipation of potential interest rate cuts by the US central bank and speculations surrounding Donald Trump’s electoral prospects.
According to the All-Pakistan Gems and Jewellers Sarafa Association, the price of 24-karat gold per tola surged by Rs4,600 to a historic Rs254,000. Similarly, the cost of 10 grams of 24-karat gold rose by Rs3,944, reaching Rs217,764. Meanwhile, 10 grams of 22-karat gold were priced at Rs199,617 on Thursday.
Read more: Check out the Latest Gold Rates in Pakistan
Internationally, the gold market also saw an upward trajectory, with the global rate reported at $2,470 per ounce, marking a $60 decrease from earlier in the week. In contrast, silver prices remained stable at Rs2,900 per tola in the local market.
Analysts attribute the escalating gold prices to various factors, including fluctuations in global markets, currency exchange rates, and broader economic conditions. The continuous rise in gold rates is expected to influence investment strategies and consumer behavior in the near future.
