Gold prices in Pakistan hit a record high on Tuesday, with the rate of 24-karat gold climbing to Rs. 440,900 per tola after a massive increase of Rs. 5,800 in a single day. This marks the highest price in the country’s history, reflecting the sharp surge seen in the global bullion market.
In the international market, gold rose by $58 per ounce, touching an unprecedented level of $4,198, as investors turned to safe-haven assets amid global economic uncertainty and currency fluctuations. The trend continues to push domestic rates upward, impacting both traders and consumers.
The price of 10 grams of 24-karat gold also rose to Rs. 378,000, maintaining the upward trajectory that has persisted for several weeks. Experts attribute this rise to market volatility, a weaker dollar, and increasing speculation around interest rate cuts in the United States.
Silver prices have also seen a similar trend, rising in parallel with gold’s momentum in both local and global markets.
Analysts warn that if global inflation and geopolitical tensions persist, gold prices could climb even higher in the coming weeks. For now, investors continue to view gold as a stable store of value in uncertain economic times.
