Gold Prices in Pakistan continued their upward surge on Wednesday, reaching unprecedented levels. According to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), the price of 24-karat gold per tola rose by Rs800, hitting a new peak at Rs261,800. The price for 10 grams of 24-karat gold also climbed by Rs686, settling at Rs224,451.
Despite the local spike, international gold prices dropped by $8, closing at $2,504. Silver prices in Pakistan remained steady at Rs2,950.
Read more: Gold Prices in Pakistan Maintain Rising Trend
Previously, on August 17, gold prices in Pakistan had also hit an all-time high, with a massive increase of Rs2,500 per tola, bringing the rate to Rs260,200. The price for 10 grams of 24-karat gold had similarly jumped by Rs2,144, reaching Rs223,080.
This recent surge surpasses the previous record set on July 18, when gold prices spiked after a two-day Ashura break. At that time, the surge was partly attributed to expectations of a US central bank interest rate cut and speculation surrounding Donald Trump’s potential victory in the US elections. The APGJSA reported an earlier historic increase of Rs4,600 per tola, bringing the price to Rs254,000.
