Gold price in Pakistan soared to an all-time high on Wednesday, driven by continued gains in international markets and strong investor demand for safe-haven assets.
According to the All Pakistan Sarafa Gems and Jewellers Association, the price of 24-karat gold jumped by Rs8,600 per tola, reaching a record Rs348,000. Meanwhile, the price of 10 grams of gold rose by Rs7,373, now standing at Rs298,353.
In the global bullion market, gold also saw a sharp increase. Prices climbed by $46 on Wednesday, pushing the international rate to $3,310 per ounce. This followed Tuesday’s $6 increase, which had already taken the price to $3,224 per ounce.
Back in Pakistan, gold prices were already on an upward trend earlier in the week. On Tuesday, the price of 10 grams of gold increased by Rs514, bringing the local rate to Rs290,980.
Experts attribute the sustained rise in gold prices to growing economic uncertainties, prompting investors worldwide to shift towards gold as a stable investment.
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