Gold price in Pakistan reaches fresh record high of Rs277,000 per tola

KARACHI: The price of gold in Pakistan continued its upward trend, in line with rising international rates, despite earlier expectations that prices would ease. On the fourth day of trading, gold prices remained unstoppable, reflecting the global market’s movements.

Experts link the surge in gold prices to several global factors, including heightened geopolitical tensions in the Middle East, recent interest rate cuts by the US Federal Reserve, and growing demand in major markets worldwide.

According to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), gold prices in Pakistan saw a significant rise on Wednesday. The price of one tola of gold surged by Rs1,500, setting a new record at Rs277,000. Similarly, the price of 10 grammes of gold increased by Rs1,285, bringing it to Rs237,482.

In the international market, gold prices also climbed on Thursday. The APGJSA reported that the rate reached $2,665 per ounce, including a $20 premium, marking a $12 increase during the day.

Meanwhile, silver prices remained steady at Rs3,050 per tola in the local market. Just a day earlier, gold had already reached a previous record high of Rs275,500 per tola, following a rise of Rs2,500.

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