Gold prices in Pakistan soar to new record high – Check latest prices

Gold prices have surged to record levels in both global and local markets, with Pakistan witnessing an unprecedented rise, largely due to the continuing tariff conflict between the United States and China.

The global price of gold saw an increase of $18 per ounce, pushing it to a new peak of $3,236 per ounce. This spike in the international market has triggered a sharp hike in gold prices in Pakistan.

According to the All Pakistan Gems and Jewelers Association, the price of gold per tola in Pakistan has risen by Rs 1,800, reaching a historic high of Rs 340,600 per tola. In addition, the price of 24-carat 10 grams of gold has increased by Rs 1,543, now priced at Rs 292,900.

Just a day before, gold prices had already gone up by Rs 10,000 per tola, bringing the price to Rs 338,800 per tola.

The rapid rise in gold prices highlights the significant influence of global economic factors on local markets.

Experts believe that the ongoing trade war and growing tensions between the two economic giants are the primary drivers behind this surge. Investors are flocking to gold, viewing it as a safe haven in times of economic uncertainty and volatility.

Historically, gold has always been considered a stable investment, with its value rising during times of inflation, political instability, and economic crisis. Throughout the ages, gold has served as a trusted store of wealth and currency. When investors are uncertain about the stability of other assets, they often seek the security of gold.

In response to fluctuating global prices, Pakistan updated its gold pricing mechanism last year, increasing the local price by $20 per ounce above the international market rate.

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