Gold prices in Pakistan surged to an all-time high on Monday, creating ripples across bullion markets nationwide. According to market dealers, the price of 24-karat gold per tola jumped sharply, reaching its highest-ever level, as global and domestic factors continued to exert pressure on precious metal rates.
The steep rise comes amid fluctuations in international gold prices, coupled with the depreciation of the Pakistani rupee against the US dollar. Market observers said that ongoing geopolitical tensions, coupled with inflationary concerns, have further fueled investor interest in gold as a safe-haven asset.
In Karachi, Lahore, Islamabad, and other major cities, gold traders confirmed a notable surge in demand from both investors and jewelers despite the soaring rates. The increase has not only impacted buyers ahead of the wedding season but has also added to concerns for households already grappling with rising living costs.
Analysts suggest that if global market trends persist, local gold prices may continue to hover at elevated levels in the near term. Meanwhile, traders are closely monitoring the rupee-dollar parity, as currency volatility remains a key factor influencing gold valuations in Pakistan.
The record-breaking price hike has once again underscored the precious metal’s significance as a hedge against uncertainty, with experts advising buyers and investors to exercise caution in the current volatile environment.
