Gold prices in Pakistan surged to a new record high as global markets rallied and currency fluctuations added pressure to local rates.
KARACHI: Gold prices in Pakistan climbed sharply on Saturday, reaching a fresh record high in the local bullion market amid a strong global rally. The price of 24-karat gold per tola increased by Rs.4,500, settling at around Rs.506,000, reflecting heightened investor demand for safe-haven assets.
According to market data, the price of 10 grams of 24-karat gold rose by Rs.3,858 to approximately Rs.433,820. Meanwhile, 24-karat gold was recorded at Rs.43,382 per gram. Prices for other purities also moved upward, with 22-karat gold at Rs.463,833 per tola, 21-karat at Rs.442,750 per tola, and 18-karat gold at Rs.379,500 per tola, showing broad-based gains across categories.
On the international front, gold prices continued to strengthen as investors reacted to ongoing economic uncertainty and geopolitical tensions. Analysts said global market volatility has driven increased demand for precious metals, pushing prices higher across multiple regions, including South Asia.
Traders in Karachi said the local rally is closely tied to movements in the international market as well as fluctuations in the Pakistani rupee against the US dollar. They noted that currency pressure has amplified domestic price increases, making gold more expensive for buyers in the local market.
Bullion dealers warned that prices are likely to remain volatile in the coming days, with future trends dependent on global economic indicators, central bank policies, and exchange rate movements.
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