KARACHI – Gold prices in Pakistan have surged to record highs, with pure 24-karat gold reaching closer to Rs400,000 per tola mark for the first time in the country’s history, local media reported as trading is underway.
The increase comes in line with a global rally, where international gold prices rose by $31 per ounce, reaching $3,757.
The price of 24-karat gold stands at Rs400,000 per tola, while 22-karat gold is priced at Rs366,666 per tola.
Similarly, 21-karat gold is being sold at Rs 350,000 per tola.
Experts attribute the sharp rise to global political and economic uncertainty, the depreciation of the Pakistani rupee, and a growing shift by investors toward gold as a safe-haven asset.
A day earlier, the price of 24-karat gold per tola increased by Rs3,400, reaching Rs393,700 compared to Rs390,300 the previous day.
Similarly, the rate of 10 grams of 24-karat gold increased by Rs2,915 to reach Rs337,534, against Rs334,619 a day earlier.
In the international bullion market, gold prices rose by $34 per ounce on Monday to settle at $3,719.
