Gold prices in Pakistan have recently surged to record highs, driven by increases in both the international and local markets. On Friday, the price of 24-karat gold climbed by Rs2,900 per tola, reaching Rs289,600, while the price for 10 grams increased by Rs2,486 to settle at Rs248,285. This marks the highest price for gold since October 30, 2024.
However, on Saturday, gold prices in Pakistan saw a slight decrease in line with international rates. The price of gold per tola decreased by Rs200, settling at Rs289,400. Similarly, 10-gram gold was sold at Rs248,113 after a decrease of Rs172. The international rate of gold also saw a minor drop, with the price per ounce decreasing by $2.
Local market analysts attribute the price hike to global inflationary pressures and a weakening currency, which have raised production costs and consumer prices. Despite the recent decrease, gold prices remain at historically high levels, reflecting the ongoing volatility in the global bullion market.
