Gold prices continue to surge in Pakistan

KARACHI: Gold prices in Pakistan surged further by Rs200 per tola, reaching an all-time high of Rs292,400 amid fluctuating rates in the international market.

Similarly, the price of 10 grams of gold rose by Rs172, bringing it to Rs250,685.

In the international market, gold prices fell nearly 1 per cent after rising to an all-time high in the previous session, as the US dollar strengthened on mounting fears of a global trade war following US President Donald Trump’s sweeping tariff measures.

Spot gold fell 0.6 per cent to $2,784.30 per ounce by 0534 GMT after prices hit a record peak at $2,817.23 on Friday. US gold futures shed 0.7 per cent to $2,815.20.

On February 1, gold prices in Pakistan climbed by Rs400 per tola, pushing rates to Rs292,200.
On Friday (January 31), the price of 24-karat gold surged by Rs1,500 to a record Rs291,800 per tola.

Similarly, the price for 10 grams of pure gold rose by Rs1,286 to Rs250,171, while 22-karat gold was being sold for Rs229,331 per 10 grams.

On January 30, the gold rate saw a hike of Rs1,600 per tola, reaching Rs290,300 — the highest level at that time.

A day earlier, on January 29, the price had surged by Rs2,300 per tola, taking it to Rs288,700 in the local market.

However, on January 28, gold prices saw a decline of Rs2,700 per tola, dropping to Rs286,400.
Meanwhile, Pakistan’s inflation clocked in at 2.4 per cent in January 2025, according to data released by the Pakistan Bureau of Statistics (PBS).

this is the lowest monthly inflation recorded for Pakistan in nine years.

In December 2024, monthly inflation was recorded at 4.1 per cent, which was drastically down from 28.3 per cent recorded in January 2024. In May last year, inflation in Pakistan reached the highest recorded of 38 per cent.

The seven-monthly average inflation is 6.6 per cent, notably lower than 28.7 per cent clocked for seven months of fiscal year 2024.