Gold rates increase by Rs108,500 per tola in 2024-25

During the last fiscal year, the price of 24-karat gold in Pakistan increased sharply by Rs 108,500 per tola. By the end of the 2024-25 fiscal year, the price had reached Rs 350,200 per tola.

According to the All Pakistan Sarafa Gems and Jewellers Association (APSGJA), this increase was caused by rising gold prices in the international market, the rupee losing value against the dollar, high inflation, and increased demand for gold from investors.

On June 29, 2024, the price of 24 karat gold was Rs 241,700 per tola. By the end of the fiscal year, it rose to Rs 350,200, showing an increase of Rs 108,500. Similarly, the price of 10 grams of gold went up from Rs 207,219 to Rs 300,240, an increase of Rs 93,000 during the same period.

In the international market, the price of 10 grams of gold was 2326 dollars at the start of the fiscal year and increased to 3280 dollars by year-end, marking a rise of 950 dollars.

The APSGJA report said that global price hikes and local currency depreciation pushed gold prices even higher in Pakistan.

Officials also mentioned that if investor interest in gold continues, the prices in Pakistan may rise further during the current fiscal year. However, gold rates will remain linked to changes in the global market.

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