ISLAMABAD – The gold price in Pakistan soared to historic levels on the first working day of the week. Investors and traders witnessed a sharp rise, prompting widespread attention.
The price of 24-carat gold jumped by Rs 6,100 per tola, reaching Rs 384,000. Meanwhile, 10 grams of gold surged by Rs 5,230, hitting Rs 329,219. Silver also saw an increase, with per tola silver climbing Rs 23 to Rs 4,338.
Analysts say the surge follows a spike in international markets. Globally, gold per ounce increased by $61, reaching $3,613. Experts attribute the rise to economic uncertainty, currency fluctuations, and ongoing global market instability.
Traders warn that the record-breaking gold price could trigger panic buying. Investors often turn to gold and silver as safe-haven assets during turbulent times, pushing demand even higher.
The dramatic increase highlights unprecedented demand in Pakistan’s precious metals market. Jewelers and traders reported high customer interest, with many rushing to purchase gold amid fears of further price hikes.
Market specialists advise buyers to exercise caution. Sudden surges can lead to market volatility, making timing and investment strategy critical for those looking to profit from rising gold prices.
The historic movement in the gold price underscores its continued importance as a financial hedge. Economists suggest monitoring global trends, including currency shifts and international market performance, as these factors heavily influence local pricing.
With gold and silver remaining key assets in uncertain times, the market anticipates continued high demand. Authorities and traders are watching developments closely, expecting prices to remain elevated for the near future.
In other news read more about Gold Price in Pakistan Soars Rs6,000 to Record High
